Income Tax (Earnings and Pensions) Act 2003 section 170

Orders etc. relating to this Chapter

Section 170 gives the Treasury the power to change, by order or regulation, various monetary amounts and percentages used in calculating taxable benefits on company cars, vans, and related fuel.

• The Treasury may increase specified amounts relating to company cars, including the minimum price threshold for later accessories, maximum employee capital contribution deductions, and classic car minimum values — including equivalent provisions for optional remuneration arrangements.
• The Treasury may substitute different amounts for the cash equivalent benefit of vans, covering vans with restricted private use, zero-emission vans, and vans in other cases — and any such order must state the tax years to which it applies.
• The Treasury may make regulations to reduce the "appropriate percentage" used to calculate a company car's taxable value (based on its CO₂ emissions), specifying the amount of reduction, the circumstances in which it applies, and any conditions attached.
• The Treasury may change the flat-rate cash equivalent figures used for taxing private fuel provided with company cars and vans, but only for tax years beginning after the year in which the order is made.