Point in time view as at 17/07/2013.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Credit-tokens: introduction is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This Chapter applies to a credit-token provided for an employee by reason of the employment which is used by the employee to obtain money, goods or services.
(2)A credit-token provided for an employee by the employer is to be regarded as provided by reason of the employment unless—
(a)the employer is an individual, and
(b)the provision is made in the normal course of the employer’s domestic, family or personal relationships.
For the purposes of this Chapter—
(a)any reference to a credit-token being provided for an employee includes a reference to it being provided for a member of the employee’s family, and
(b)use of a credit-token by a member of an employee’s family is to be treated as use of the token by the employee.
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