Commentary on Sections Example 3 £150(Pe) – £50(E) = £100
The cost of providing the sickness benefits is £60, so D = £60.
Putting these values into the formula: £150(PE) – £60(D) = £90
£50(E) is substantially less than £90, so the voucher is not a cash voucher.
304.Subsection (3) defines “sickness benefits” for the purposes of the section.