Income Tax (Earnings and Pensions) Act 2003 section 132A

Capital contributions by employee: optional remuneration arrangements

Section 132A deals with how an employee's capital contribution towards the cost of a company car or its accessories reduces the taxable benefit where the car is provided under an optional remuneration arrangement (commonly known as a salary sacrifice scheme).

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.