SE13110 - Termination payments and benefits: meaning of "received"
Section 148 ICTA 1988(4) ICTA 1988 as amended by Section 58 FA 1998
Cash is “received” when any of the following takes place
- when actual payment of the cash is made
- when a payment on account of the cash is made
- when the person to receive it can require it to be paid
- when the person to receive it can require a payment on account of it to be made.
So, for example, if a payment within Section 148 ICTA 1988 is to
be paid and it can be lawfully demanded, the cash is
“received” at the date when it can be demanded - even
if it is actually paid later.
A non-cash benefit is “received” when
it is “used or enjoyed”. For example, if the benefit
provided is the use of a car, that will be “enjoyed” as
soon as the car is available, even if it is actually
“used” only later.
