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HMRC internal manual

Employment Income Manual

Van benefit to tax year 2004 to 2005: value of exclusive availability

Section 157 ITEPA 2003

The value of exclusive availability needs to be added to the value of shared availability to arrive at the total cash equivalent of the van benefit for a particular employee.

Value of exclusive availability

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

Step Process
1 Determine the age of the van
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.
3 Make any deduction from the basic value of the van under section 158 for any periods when the van was unavailable or a shared van. The resulting amount is the provisional sum.
4 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.

Tax years from 2005 to 2006 onwards

You can find full guidance on van benefit for these tax years using the contents page at EIM22700.