Income Tax (Earnings and Pensions) Act 2003 section 75

Meaning of "cash voucher"

Section 75 defines what counts as a "cash voucher" for the purposes of the tax rules on vouchers provided to employees.

• A cash voucher is any voucher, stamp, or similar document that can be exchanged for money equal to, greater than, or not substantially less than the cost to the person who provided it
• It does not matter if the voucher can also be exchanged for goods or services — it still counts as a cash voucher if it meets the money test
• The voucher qualifies whether it can be redeemed on its own or together with other vouchers, and whether it can be redeemed immediately or only after a period of time
• Vouchers connected with sickness benefits are specifically excluded from this definition under a separate provision