SE16045 - Vouchers and credit-tokens: non-cash voucher - when does Schedule E charge arise?

Section 141(1)(a) and (2) ICTA 1988

For a description of the points to consider in a case involving vouchers or credit-tokens see SE16030.

A Schedule E charge arises when a non-cash voucher is “received by or appropriated to an employee” ( SE16120). There is no requirement that it has to be actually used except in the case of a transport voucher ( SE16060). It must simply be capable of exchange, either singly or together with other vouchers, for goods and services, now or at some time in the future.

There is a different rule for cheque vouchers ( SE16050). A Schedule E charge arises when a cheque voucher is handed over in exchange for money, goods or services. Where the handing over is done via the post it is treated as handed over at the time of posting.