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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › credit tokens- employment income
sir regarding credit tokens i wanted to understand what is the real benefit of them? if the amount of credit token is anyway a taxable benefit for the employee then whats the point? One of my friends seem to claim that when they act as taxable benefit then the employee has to pay tax on the highest marginal rates of tax and the remaining portion comes for free. as in the employee pays say, 40% tax over the taxable benefit, but essentially gets a discount of 60%(here). so thats why its given to employees.
is this logic right??
So that there is no misunderstanding here what do you mean by “credit token”?