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HMRC internal manual

Employment Income Manual

Van benefit to 2004/05: value of exclusive availability

Section 157 ITEPA 2003

The value of exclusive availability needs to be added to the value of sharedavailability (see EIM22090) to arrive at the total cashequivalent of the van benefit for a particular employee (see EIM22075).

Value of exclusive availability

Where a van is made available for the exclusive use of one employee at any time in ayear the value is calculated as follows:

Step 1     EIM22067 Determine the age of the van
Step 2   If the age of the van is less than 4 years at the end of the tax year in question, the basic value of the van for the year is £500.
    In any other case, the basic value of the van for the year is £350.
Step 3 (a) EIM22082  
(b) EIM22070 Make any deduction from the basic value of the van under Section 158 for any periods when the van was (a) unavailable or (b) a shared van.  
    The resulting amount is the provisional sum.
Step 4      EIM22084 Make any deduction from the provisional sum under Section 159 in respect of payments by the employee for the private use of the van in respect of exclusive availability.
The result is the value of exclusive availability.    

Years from 2005/06 onwards

Full guidance on van benefit for these years can be found using the contents page at EIM22700.