From: Peter Saxton 
Newsgroups: uk.finance
Subject: Re: Which tax year??
Date: Wed, 17 Sep 2003 10:00:08 +0100

On Wed, 17 Sep 2003 07:38:01 +0100, "Doug Ramage"
 wrote:

>
>"Peter Saxton"  wrote in message
>news:c84fmvgg2mlkor7eqdnani2lq3fqk3t57g@4ax.com...
>On Tue, 16 Sep 2003 19:50:16 +0100, "Doug Ramage"
> wrote:
>
>>
>>"Peter Saxton"  wrote in message
>>news:27hemv02i7m7qesq82eniaoba5b1k86pf8@4ax.com...
>>On Tue, 16 Sep 2003 15:46:35 +0000 (UTC), "Sebastian"
>> wrote:
>>
>>>Hello,
>>>
>>>If my pay for March 2003 is processed for PAYE in mid April 2003 =
(after
>the
>>>5th), which tax year does this pay fall into? Does it depend on the =
period
>>>you worked it or when it's processed?
>>>
>>>Thanks,
>>>
>>>Seb.
>>>
>>You can tell how your employer has treated it by looking at the
>>cumulative pay but theoretically it should be when it was earned.
>>
>>
>>--
>>Peter Saxton from London
>>peter@petersaxton.co.uk
>>
>>Receipts basis has replaced earnings basis for Schedule E more than 10
>years
>>ago.
>
>s202B ICTA 1988 explains the meaning of receipt as being the earliest
>of:
>
>(a) when the payment is made, and
>
>(b) when a person becomes entitled to payment.
>
>
>--
>Peter Saxton from London
>peter@petersaxton.co.uk
>
>I don't think "entitled" is synonymous with "earned".

Agreed, but in this case I wonder what the situation is. Companies
don't usually process the payroll in the middle of the next month.
I've seen them pay in the middle of the current month or at the end of
the month. Overtime can be paid later of course. I agree I was wrong
saying earned. Correct is entitled - wrong is earned or received.


--=20
Peter Saxton from London
peter@petersaxton.co.uk