Finance Act 2002 (c. 23)

Part 3 Income tax, corporation tax and capital gains tax

Chapter 2 Other provisions

Employment income and related matters

36 Exemption of minor benefits: application to non-cash vouchers

(1) In section 155ZB of the Taxes Act 1988 (power to provide for exemption of minor benefits), after subsection (2) add—

“(3) If by virtue of regulations under this section there is no charge to tax under section 154 in respect of a benefit (or there would be no charge if the employee were in employment to which Chapter 2 of Part 5 applied), there is no charge to tax under section 141 (non-cash vouchers) in respect of a voucher evidencing the employee’s entitlement to the benefit.”.

(2) This section has effect for the year 2002-03 and subsequent years of assessment.