Section 96A | Power to exempt use of non-cash vouchers or credit-tokens to obtain exempt benefits ^F1

(1)The Treasury may by regulations provide for exemption from any liability that would otherwise arise by virtue of this Chapter in respect of—^F1

(a)non-cash vouchers which are or can be used to obtain specified exempt benefits, or which evidence an employee's entitlement to specified exempt benefits;^F1

(b)credit-tokens which are used to obtain specified exempt benefits.^F1

(2)In this section—^F1

“exempt benefit” means a benefit the direct provision of which is exempted from liability to income tax by a provision of Part 4 (employment income: exemptions), and

“specified” means specified in the regulations.

(3)Regulations under this section may operate by amending section 266 (exemption of non-cash vouchers for exempt benefits) or section 267 (exemption of credit-tokens used for exempt benefits).^F1