Commentary on Sections Glossary Part 3: Employment income: earnings and benefits etc. treated as earnings £150(Pe) – £60(E) = £90
The cost of providing the sickness benefits is £90, so D = £90.
Putting these values into the formula: £150(PE) – £90(D) = £60
£60(E) = £150(PE) – £90(D), so the voucher is a cash voucher.