§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what estimate he has made of the revenue which would be raised by the treatment of car parking space provided to employees as a taxable benefit; and if he will make a statement. [1622]
§ Mr. Jack[holding answer 4 November 1996]: Before 1988, the benefit of employer-provided workplace car parking was taxable under the general rules for valuing benefits in kind. This benefit was exempted in 1988, on practical grounds, at a cost then estimated at £5 million a year. The revenues that would now be raised by specific charging rules would depend on those rules—for example, the valuation mechanism and any exclusion for low-value parking or infrequent users.