Explanatory note
(This note is not part of the Regulations)
These Regulations further amend the Social Security (Contributions) Regulations 1979 (“the principal Regulations”).
Regulation 3 inserts a new regulation 19C in the principal Regulations, which provides that for the purposes of earnings-related contributions payments to employed earners in the form of a wide range of securities and derivative instruments are not to be disregarded in the computation of their earnings.
Regulation 2 makes a minor amendment to regulation 19 of the principal Regulations, to give effect to the new provisions.
The new regulation 19C of the principal Regulations includes provision for calculation of the value of the payments not to be disregarded.