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Paragraph 11 Staff costsC1C2

United Kingdom

(1)

“Social security costs” means any contributions by the company to any state social security or pension scheme, fund or arrangement.

(2)

“Pension costs” includes—

(a)

any costs incurred by the company in respect of any pension scheme established for the purpose of providing pensions for persons currently or formerly employed by the company,

(b)

any sums set aside for the future payment of pensions directly by the company to current or former employees, and

(c)

any pensions paid directly to such persons without having first been set aside.

(3)

Any amount stated in respect of the item “social security costs” or in respect of the item “wages and salaries” in F1the profit and loss account F2Format 2 in Section B of Part 1 of Schedule 1 must be determined by reference to payments made or costs incurred in respect of all persons employed by the company during the financial year under contracts of service.

Annotations

Textual amendments

F1

Words in Sch. 8 para. 11(3) substituted (with effect in accordance with reg. 2(2) of the amending S.I.) by The Small Companies (Micro-Entities Accounts) Regulations 2013 (S.I. 2013/3008), regs. 2(1), 13(3) (with reg. 3)

F2

Words in Sch. 8 para. 11(3) substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 25(4) (with reg. 3)

Modifications

C1

Sch. 8 applied (with modifications) (E.W.S.) (with application in accordance with reg. 2(2) of the amending S.I.) by The Small Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1912), regs. 2(1), 8(2), Sch. 5 (with reg. 2(3)) 9as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 45)

C2

Sch. 8 amendment to earlier affecting provision S.I. 2008/1912, Sch. 5 (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 45