? 2. Assessable income

Employment income includes income arising from an employment under a contract of service, for both employees and directors.

Calculation

① wages or salaries - accrual basis

② bonuses / commission (entitled date/received date)

③ benefits (taxed when provided)

④ pension income (taxed on accrual basis)

Tax year: 6 April 2022 ---- 5 April 2023

Bonus - Special rules for directors

Earnings are deemed to be received on the earliest of:

① The earlier of the two alternatives given in the general rule

② The time when the amount is credited in the company’s accounting records

③ The end of the company’s period of account (if the amount was determined by them)

④ The time the amount is determined (if after the end of the company’s period of account)