(1)A deduction from earnings is allowed if—
(a)the earnings include an amount treated as earnings under section 87(1) (cash equivalent of benefit of non-cash voucher treated as earnings),
(b)the voucher is exchanged for goods or services (whether in the tax year or a later year), and
(c)had the employee incurred and paid the cost of the goods or services in the tax year, the whole or part of the amount paid would have been deductible from the earnings under Chapter 2 or 5 of this Part.
(2)The deduction is equal to the lesser of—
(a)the amount treated as earnings, and
(b)the amount that would have been so deductible.
(1)A deduction from earnings is allowed if—
(a)the earnings include an amount treated as earnings under section 94(1) (cash equivalent of benefit of credit-token treated as earnings), and
(b)had the employee incurred and paid the cost of the goods or services obtained by using the token, the whole or part of the amount paid would have been deductible from the earnings under Chapter 2 or 5 of this Part.
(2)The deduction is equal to the lesser of—
(a)the amount treated as earnings, and
(b)the amount that would have been so deductible.
(1)A deduction from earnings is allowed if—
(a)the earnings include an amount treated as earnings under Chapter 5 of Part 3 (taxable benefits: living accommodation), and
(b)had the employee incurred and paid an amount equal to that amount for the accommodation in the tax year, the whole or part of the amount paid would have been deductible under Chapter 2 or 5 of this Part.
(2)The deduction is equal to the amount that would have been so deductible.
(1)A deduction from earnings is allowed if—
(a)the earnings include an amount treated as earnings under Chapter 10 of Part 3 (taxable benefits: residual liability to charge) in respect of a benefit, and
(b)had the employee incurred and paid the cost of the benefit, the whole or part of the amount paid would have been deductible under Chapter 2 or 5 of this Part.
(2)The deduction is equal to the amount that would have been so deductible.
(3)For the purposes of this section, the cost of the benefit is determined in accordance with sections 204 to 206.