Valuation of benefits
Vouchers provided to employees
A voucher is a token that can be exchanged for goods or services. The face value of a voucher is the amount of money, or the value of goods, you receive when you use it.
As an employer, you might provide your employees with vouchers for certain goods, including meal vouchers. These are taxable benefits.
The face value of a voucher is generally the value of the benefit.
You must add the value of the benefit, as notional pay, to your employee’s pay to deduct:
The Small Benefit Exemption may apply if you provide vouchers to employees.
Next: Small Benefit Exemption