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HMRC internal manual

Employment Status Manual

Particular issues: receipts basis

Paragraph 10(5) Schedule 12 Finance Act 2000/Section 55(5) ITEPA 2003

Regulation 4(4) SI 2000 No. 727

The income brought into account at Steps One and Two of the deemed payment calculation is based upon the amount received in the tax year.

The definition of “received” is narrower than under the normal Employment Income rules, see EIM42210. This is to exclude money where an invoice has been sent and the amount in question has not been received because the client is a slow payer.