Commentary

A1.126 Period in which items to be included

Administration and compliance

A1.126 Period in which items to be included

A1.126 Period in which items to be included

In computing the income of a period (whether a tax year or some other period), there are appropriate rules as to the period in which any given receipt or expense must be included. Broadly speaking, the question depends on the period in which the right or liability arises, and not the period in which the payment is received or made (or even the period in which the amount thereof is calculated). However, statute can change this general rule. Thus, where an employee is paid on a commission basis, until 1989 the commission

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