Section 92 — Income Tax (Earnings and Pensions) Act 2003: Meaning of “credit-token”

Meaning of “credit-token” 92 1 In this Chapter “ credit-token ” means a credit card, debit card or other card, a token, a document or other object given to a person by another person (“X”) who undertakes—

a on the production of it, to supply money, goods or services on credit, or b if a third party (“Y”) supplies money, goods or services on its production, to pay Y for what is supplied.

2 A card, token, document or other object can be a credit-token even if—

a some other action is required in addition to its production in order for the money, goods or services to be supplied;

b X in paying Y may take a discount or commission.

3 For the purposes of this section—

a the use of an object given by X to operate a machine provided by X is to be treated as its production to X, and b the use of an object given by X to operate a machine provided by Y is to be treated as its production to Y.

4 A “ credit-token ” does not include a cash voucher or a non-cash voucher.