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Sections 126 to 130 ITEPA 2003

Before reading the guidance that follows this paragraph, ensure that you are familiar with:

• the method statement in Section 121(1) ITEPA 2003, see EIM24015 (this page concerns step 2)
• the general introduction to the treatment of accessories at EIM24200.

Price of an accessory

»Ê¹ÚÌåÓýapp amount to be taken into account in respect of an accessory is:

• its list price, if it has one, or
• its notional price, if it has no list price.

List price

»Ê¹ÚÌåÓýapp list price of an initial extra accessory is:

• the price published by the manufacturer, importer or distributor of the car as the inclusive price appropriate for an equivalent accessory if sold with a car of the same kind, or
• if there is no such price, the price published by the manufacturer, importer or distributor of the accessory that is appropriate for such an accessory.

»Ê¹ÚÌåÓýapp list price of a later accessory is the published price of the manufacturer, importer or distributor of the accessory.

Notional price

»Ê¹ÚÌåÓýapp notional price of an accessory means the inclusive price that it might reasonably have been expected to fetch.

Conditions under which each price is to be determined

See EIM24225.