Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 4Taxable benefits: vouchers and credit-tokens
Cash vouchers: exceptions
79Voucher issued under approved scheme
1
This Chapter does not apply to a cash voucher received by an employee if—
a
it is issued under a scheme, and
b
at the time when it is received the scheme is a scheme approved by the Inland Revenue for the purposes of this section.
2
The Inland Revenue must not approve a scheme for the purposes of this section unless they are satisfied that it is practicable for income tax in respect of all payments made in exchange for vouchers issued under the scheme to be deducted in accordance with PAYE regulations.