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substantially less but difference is due to the provision of sickness benefit.43 Generally the value of the benefit is ignored and the legislation concentrates on the cost to the provider.44 |
A non-cash voucher,including a ‘cheque voucher’,45 is one that can be exchanged for money, goods or services—including transport. It gives rise to liability if it provided to the employee or family by reason of employment.46 The liability is on an amount equal to the cost to the person at whose cost the voucher and the money, goods or services for which it can be exchanged are provided;47 the value of the benefit is ignored.48 The liability normally arises when the expense is incurred49 or, if later, when the voucher is received, although the appropriation of the voucher (eg by sticking it on a card held for the employee) is treated as receipt by the employee.50 There are exemptions for certain non-cash vouchers, which include (a) vouchers available to the public generally (b) travel concessions for certain lower paid employees of passenger transport undertakings under a scheme approved before 26 March 1982.51 Similar rules apply to credit tokens and credit cards.52 When employees use a credit token to obtain money, goods or services |