What are the tax implications of using SayShopping Pass?
SayShopping Pass are exchangeable for goods and/or services. As such they are considered as “non-cash vouchers”. Non-cash vouchers are treated as benefits in kind, so income tax and NICs are due on the taxable value of the vouchers given to any director or employee earning more than the legal threshold per annum. The taxable value is the lesser of the cost of the voucher or its face value. Therefore, where the employer purchases the voucher at a discount, only the discounted value is subject to tax and NICs. Detailed information is available from the Incentive Valuation Unit, telephone +44 (0)161 2613269. Useful leaflets and guides can also be obtained from the Inland Revenue Website on http://www.inlandrevenue.gov.uk/ Please note that this information does not constitute advice, and Sodexho Pass Limited will not be liable for errors made in interpretation. How long are SayShopping Pass valid for? SayShopping Pass have a three year validity period and the expiry date is printed on the
