Finance Act 2025

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Amendment of section 121 of Principal Act (benefit of use of car)

24. Section 121(4A) of the Principal Act is amended—

(a) in paragraph (a), by the substitution of “column (3), (4), (5), (6), (7) or (8)” for “column (3), (4), (5), (6) or (7)”,

(b) in paragraph (aa)—

(i) in subparagraph (iv), by the substitution of “subject to paragraph (ab), €20,000” for “€20,000”, and

(ii) in subparagraph (v), by the substitution of “subject to paragraph (ab), €10,000” for “€10,000”,

(c) in paragraph (ab)—

(i) by the substitution of “each of the years of assessment 2023 to 2028 (both years inclusive)” for “the years of assessment 2023, 2024 and 2025”,

(ii) in subparagraph (i)—

(I) by the substitution of “subparagraph (i), (ii), (iii), (iv) or (v)” for “subparagraph (i), (ii) or (iii)”,

(II) in clause (I), by the substitution of “subparagraph (i), (ii), (iii), (iv) or (v)” for “subparagraph (i), (ii) or (iii)”,

(III) by the substitution of the following for clause (II):

“(II) €10,000 for each of the years of assessment 2023 to 2026 (both years inclusive), €5,000 for the year of assessment 2027 and €2,500 for the year of assessment 2028,”,

and

(iii) in subparagraph (ii)—

(I) by the substitution of “A1, A, B, C and D” for “A, B, C and D”, and

(II) by the substitution of “an amount ascertained under clause (II)” for “€10,000”,

(d) in paragraph (b), by the substitution of “column (3), (4), (5), (6), (7) or (8)” for “column (3), (4), (5), (6) or (7)” in both places where it occurs, and

(e) in paragraph (d)—

(i) by the substitution of the following Table for Table A:

“TABLE A

”,

and

(ii) by the substitution of the following Table for Table B:

“TABLE B

”.