Related Commentary  

695(1)  On each occasion on which an employee uses a credit-token provided to the employee because of the employee's employment to obtain–

(a)money, or

(b)anything which, if provided to the employee at the time when the credit-token is used, would fall to be regarded as a readily convertible asset,

the employer is to be treated, for the purposes of PAYE regulations, as making a payment of PAYE income of the employee of an amount equal to the amount ascertained under section 94(2) (benefit of credit-token treated as earnings).

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