88Year in which earnings treated as receivedU.K.
(1)In the case of a non-cash voucher other than a cheque voucher, the amount treated as earnings under section 87 [F1or 87A] is to be treated as received—
(a)in the tax year in which the cost of provision is incurred, or
(b)if later, in the tax year in which the voucher is received by the employee.
(2)In the case of a cheque voucher, the amount treated as earnings under section 87 [F2or 87A] is to be treated as received in the tax year in which the voucher is handed over in exchange for money, goods or services.
(3)[F3For the purposes of subsection (2) and sections 87(2B) and 87A(6),] Where a cheque voucher is posted it is to be treated as handed over at the time of posting.
Textual Amendments
F1Words in s. 88(1) inserted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 5(a)
F2Words in s. 88(2) inserted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 5(b)
F3Words in s. 88(3) inserted (with effect in accordance with s. 1(14) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 1(3)