This is something that I've had people disagree with me on so I just wanted to get your opinion...

My understanding is that income tax is payable on what has been invoiced, regardless of whether or not you've actually received the money (unless it is a bad debt which is written off).

I've had people say no, it is only payable on what you've actually been paid.

Obviously a tax consultant is the right person to ask, but what is your opinion?