§ Mr. Woodallasked the Chancellor of the Exchequer what is the present concession for tax purposes in respect of luncheon vouchers; when the concession was first introduced; what is the amount to which it would require to be increased in order to restore it in real terms to its original value at the date when the concession was first given; and whether he proposes to increase it.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 18th May 1976], gave the following information:
The value of luncheon vouchers issued to employees is, by concession, not taxed on condition that they are non-transfer-
576WSweden, the United States of America, Canada and Japan.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 18th May 1976], gave the following answer:
I refer the hon. Member to my Written Answer to the hon. Member for Norfolk, North (Mr. Howell) on 25th March 1976 —[Vol. 908, c. 247–8]. The following table has been prepared on the same basis and using the same rates of exchange:
able; are used for meals only; are available to lower paid staff; and do not exceed 15p per employee for each full working day.
A concession on luncheon vouchers has applied since 1948, but in its existing form it dates from 1959. The present equivalent in real terms of 15p at the date the concession was formally announced—20th January 1959 —is 46p, as measured by the change in the retail price index.
The concession itself and its monetary limit are kept under regular review.