Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 4Taxable benefits: vouchers and credit-tokens
General supplementary provisions
F196APower to exempt use of non-cash vouchers or credit-tokens to obtain exempt benefits
(1)
The Treasury may by regulations provide for exemption from any liability that would otherwise arise by virtue of this Chapter in respect of—
(a)
non-cash vouchers which are or can be used to obtain specified exempt benefits, or which evidence an employee's entitlement to specified exempt benefits;
(b)
credit-tokens which are used to obtain specified exempt benefits.
(2)
In this section—
“exempt benefit” means a benefit the direct provision of which is exempted from liability to income tax by a provision of Part 4 (employment income: exemptions), and
“specified” means specified in the regulations.
(3)
Regulations under this section may operate by amending section 266 (exemption of non-cash vouchers for exempt benefits) or section 267 (exemption of credit-tokens used for exempt benefits).