{
  "url": "https://openlegislation.uk/finance-act-2009-sections-101-and-102-interest-on-late-payments-and-repayments-consequential-amendments-order-2014/schedule/paragraph-2",
  "json_url": "https://openlegislation.uk/finance-act-2009-sections-101-and-102-interest-on-late-payments-and-repayments-consequential-amendments-order-2014/schedule/paragraph-2.json",
  "legislation": "uksi/2014/1283",
  "legislation_title": "The Finance Act 2009, Sections 101 and 102 (Interest on Late Payments and Repayments) (Consequential Amendments) Order 2014",
  "legislation_url": "https://openlegislation.uk/finance-act-2009-sections-101-and-102-interest-on-late-payments-and-repayments-consequential-amendments-order-2014",
  "path": "schedule/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": "Social Security Administration Act 1992",
  "text": "In section 121C of the Social Security Administration Act 1992 (liability of directors etc. for company’s contributions)—\n(a) in subsection (5) for “at the prescribed rate” substitute “at the Class 1 rate on the Class 1 element of the specified sum, and otherwise at the prescribed rate,”;\n(b) in subsection (7)(c) after “interest on it” insert “at the Class 1 rate on the Class 1 element of it and otherwise”; and\n(c) in subsection (9)—\n(i) before the definition of “contributions” insert—\n““the Class 1 rate”—\n(a) in subsection (5) means the rate from time to time applicable under section 103(1) of the Finance Act 2009; and\n(b) in subsection (7)(c) means the rate from time to time applicable under section 103(2) of that Act;\n“the Class 1 element”, in relation to any amount, means so much of that amount as is calculated by—\n(a) multiplying that amount by so much of the specified amount as consists of Class 1 contributions; and\n(b) dividing the product of that multiplication by the specified amount;”; and\n(ii) in the definition of “contributions” after “in respect of contributions” insert “(and accordingly, in the definition of “the Class 1 element” given by this subsection, “Class 1 contributions” includes any interest or penalty in respect of Class 1 contributions)”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1992 c. 5. Section 121C was inserted by section 64 of the Social Security Act 1998 (c. 14) and has been amended by paragraph 10 of Schedule 5 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2) and by section 5(3) of the National Insurance Contributions and Statutory Payments Act 2004 (c. 3)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/1283/schedule/paragraph/2",
    "retrieved_at": "2026-10-29T00:16:00.137101+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}