S5, S9, S25 and S687 Income Tax (Trading and Other Income) Act 2005, S996 Income Tax Act 2007, S35, S36, S46 and S979 Corporation Tax Act 2009, S1125 Corporation Tax Act 2010

All Single Payment Scheme (SPS) receipts are income payments subject to tax. The basis of charge will, however, depend on the circumstances under which they are received.

An explanation of the terms used in the scheme is at BIM55128.

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