Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 3 Employment income: earnings and benefits etc. treated as earnings

Chapter 4 Taxable benefits: vouchers and credit-tokens

Cash vouchers: exceptions

80 Vouchers where payment of sums exempt from tax

This Chapter does not apply to a cash voucher if it is—

(a) a document intended to enable a person to obtain payment of a sum which would not have constituted employment income if paid to the person directly, or

(b) a savings certificate where the accumulated interest payable in respect of it is exempt from tax (or would be so exempt if certain conditions were met).