Section 88 | Year in which earnings treated as received

(1)In the case of a non-cash voucher other than a cheque voucher, the amount treated as earnings under section 87 or 87A is to be treated as received—^F1

(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 or 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.^F2

(3)For 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.^F3