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Income Tax (Earnings and Pensions) Act 2003

Section 75: Meaning of “cash voucher”

296.This section defines “cash voucher” for the purposes of this Chapter. It derives from section 143(3) of ICTA.

297.Subsection (1) sets out the definition. It does not require a cash voucher to be exchangeable wholly for cash. The amount of cash must be “not substantially less than” the cost to the employer. “Substantially” is not defined.

298.The section makes it explicit that the “voucher” provided at the expense of the person bearing the cost includes a “stamp or similar document”. This is implicit in ICTA by virtue of section 143(3). See Note 15 in Annex 2.

299.Subsection (2) further clarifies what is or is not a cash voucher for the purposes of this Chapter. A voucher which is not a “cash voucher” may be a “non-cash voucher” to which section 82 of this Act applies.

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