Patsy

Thanks for your response. I was thinking though that if it's when you cash it out to your bank account that it could lead to people wilfully not cashing in towards the end of one tax year if it benefits them for the income to appear "received" in the following tax year ( or vice versa). I'd be interested to find out the official line on this from a HMRC employee if possible.

When paid in US Dollars do I need to convert each payment into Sterling when received or do I do it monthly /annually using the HMRC currency monthly/annual average exchange rates? If I'm allowed to do it annually could I use the annual average published in March to complete 24/25 tax year figures even though that would cover 1st April to 31st March rather than the actual tax year. For example for tax year 24/25 could I use the March 25 figures even though that wouldn't technically cover 1/4/25 to 5/4/25?

I need to know how an online content creator records the date payment has been received when using cash basis accounting. A customer pays to view content and the payment appears as 'pending' in the creator's website account. 7 days later this payment becomes available to be withdrawn by the creator into their bank account. My question is this, on what date are those earnings counted as being received? Is it the date the customer paid (even though this money can't be accessed by the creator until 7 days later?