Van benefit from 2005/06: definitions - age of van
Section 171(3) ITEPA 2003
This definition is carried over from years before 2005/06 but is only relevant foryears up to and including 2006/07, after which the age of the van ceases to be a factor indetermining the cash equivalent.
The age of a van at any point in time is the interval between the date of its firstregistration (whether in the United Kingdom or elsewhere) and that time.
The date of first registration is the date on which the vehicle was first registered underthe Vehicle Excise and Registration Act 1994 or under corresponding legislation of anycountry or territory.
Where a van, other than a brand new vehicle, is imported into the United Kingdom youmay therefore need to find out the date it was first registered abroad.
For example, a van that was first registered on or after 6 April 2002 will count asunder four years old for the tax year 2005/06. If it was first registered before that dateit will rank as over four years old because the cash equivalent is calculated by referenceto the age of the van at the end of the year of assessment.