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Company Cars

Volume 32: debated on Wednesday 17 November 1982

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asked the Chancellor of the Exchequer what would be the loss of revenue resulting from raising the salary limit used in calculating the tax implications of company cars from £8,500 to (a) £10,000, (b) £12,000 and (c) £15,000.

In a full year, at 1982–83 levels of income and tax rates, the revenue cost of raising the £8,500 limit to the levels suggested would, in relation to car benefits alone—and excluding any effect in relation to car fuel—be (a) £7 million, (b) £15 million and (c) £25 million.