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A non-cash voucher is defined as any voucher, stamp or similar document or token (other than a cash voucher, see E4.604), capable of being exchanged for money, goods or services or any combination of these. The NIC definition of a non-cash voucher is the same as the income tax definition¹ though, as set out below, the tax and NIC charges are in practice, applied differently.

A number of exceptions then apply to the non-cash voucher tax legislation ², as confirmed below. The overall intention appears that, if a benefit in kind would otherwise be specifically exempted (eg under the benefits code, see E4.601), it will not be taxable simply because of the non-cash vouchers legislation. The NIC voucher exemption legislation, although set out differently, is also intended to mirror the employment income tax exemptions³.

The definition of a non-cash voucher is wide enough to include, for example, documents in letter form or plastic discs inserted into machines, the key point being that the voucher is capable of being exchanged for goods or services (although