Regulation 4 Amendment of the Social Security (Contributions) Regulations 2001

in paragraph 1(1) for “15” substitute “16”;

at the end add—

“Student loans

16

(1)

A payment made in accordance with Regulations made under section 186 of the Education Act 2002^f1 in respect of the repayment, reduction or extinguishing of the amounts payable in respect of a loan.

(2)

A payment for the purpose of discharging any liability of the earner to income tax for any tax year where the income tax in question is tax chargeable in respect of—

(a)

the payment referred to in paragraph (1), or

(b)

the payment made for the purpose of discharging the income tax liability itself.”.