SE16110 - Vouchers and credit-tokens: cash vouchers

Section 143 ICTA 1988

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

A cash voucher is defined as any voucher, stamp or similar document capable of being exchanged for a sum of money which is greater than, equal to or not substantially less than the expense incurred in providing the voucher by the person who provides it. Thus a voucher which is exchangeable for, say, £100 worth of goods or £10 in cash, is unlikely to be a cash voucher and will fall to be dealt with as a non-cash voucher ( SE16040).

The cash voucher legislation was introduced to counter specific holiday pay stamp schemes. It is unlikely to have wide application elsewhere, although it may catch, for example, Premium Bonds. Stock certificates for redeemable securities (such as Treasury Loan Stock) are not cash vouchers because the certificates themselves are not exchanged for cash on redemption - they merely provide proof of registration of the stock.

For the amount chargeable as an emolument where a cash voucher is involved, see SE16140.