# The Social Security (Contributions) (Amendment No. 4) Regulations 2004, Regulation 8: Amendments to the Social Security (Contributions) Regulations 2001


In Schedule 5 (elections about share option gains)—
(a) in the heading, for “SHARE OPTION GAINS” substitute “SECURITIES OPTIONS, RESTRICTED SECURITIES AND CONVERTIBLE SECURITIES”; and
(b) in paragraph 1(1) for paragraphs (a) and (b) substitute—
“(a) details of the securities options, restricted securities and convertible securities to which it relates, or of the period to which it relates, within which these are intended to be awarded or acquired;
(b) a statement that the election relates to relevant employment income arising from the securities or securities options referred to in sub-paragraph (1)(a) on which the employed earner is liable to pay secondary Class 1 contributions under—
(i) in the case of securities options, section 476 of ITEPA 2003 and section 4(4)(a) of the Act;
(ii) in the case of restricted securities, section 426 of ITEPA 2003 and regulation 22(7);
(iii) in the case of convertible securities, section 438 of ITEPA 2003 and regulation 22(7), and
an explanation of the effect of the relevant provision;”.

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Source: https://www.legislation.gov.uk/uksi/2004/2096/regulation/8 (the official version)
Page: https://openlegislation.uk/social-security-contributions-amendment-no-4-regulations-2004/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.