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The Income Tax (Employments) (Notional Payments) Regulations 1994
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- 1994 No. 1212
- Regulation 6
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Notional payments—non-cash vouchers—time of payment
6.—(1) Paragraphs (2)
and (3) below make provision with respect to the time when a notional payment treated as made by virtue of subsection (1) of section 203G (non-cash vouchers) is made.
(2) Where the non-cash voucher received by the employee is a cheque voucher, the notional payment is made at the time when the voucher is handed over in exchange for money, goods or services.
(3) Where the non-cash vouche received by the employee is a voucher other than a cheque voucher, the notional payment is made at the time when the chargeable expense is incurred or, if later, at the time when the voucher is received by the employee.
(4) For the purposes of paragraph (2) above, a voucher which is posted shall be treated as handed over at the time of posting.
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