Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 4Taxable benefits: vouchers and credit-tokens
Non-cash voucher: exceptions
86Transport vouchers under pre-26th March 1982 arrangements
1
This Chapter does not apply to a transport voucher provided for an employee of a passenger transport undertaking under arrangements in operation on 25th March 1982 which meet the condition in subsection (2).
2
The condition is that the arrangements are intended to enable the employee or a member of the employee’s family to obtain passenger transport services provided by—
a
the employer,
b
a subsidiary of the employer,
c
a body corporate of which the employer is a subsidiary, or
d
another passenger transport undertaking.
3
In this section—
“passenger transport undertaking” means an undertaking whose business consists wholly or mainly in the carriage of passengers or a subsidiary of such an undertaking, and
“subsidiary” means a wholly-owned subsidiary within the meaning of section 736 of the Companies Act 1985 (c. 6).