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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) to provide that Horizon Shortfall Scheme top-up payments will be disregarded in the calculation of earnings for the purpose of establishing liability to Class 1 National Insurance contributions.

Horizon Shortfall Scheme top-up payments are made by Post Office Limited to persons who were adversely affected by accounting shortfalls related to the Horizon system for the purpose of topping-up that compensation payment to account for sums lost to tax.

A Tax Information and Impact Note has not been prepared for this instrument because it contains no substantive changes to NICs policy.