# The Social Security (Contributions) Regulations 2001, Paragraph 1: Certain payments by way of securities, restricted securities and restricted interests in securities, and gains arising from them, disregarded


(1) Payments by way of securities, restricted securities and restricted interests in securities, and gains arising from them, are disregarded in the calculation of an employed earner’s earnings to the extent mentioned in this Part.
(2) For the purposes of paragraphs 13, 15 and 16—
(a) “body corporate” includes—
(i) a body corporate constituted under the law of a country or territory outside the United Kingdom, and
(ii) an unincorporated association wherever constituted;
(b) “total discount” means the difference between the total value of the exercise price of the shares that are subject to the right in question and the total market value of that right;
(c) “total market value” means the price which the shares that are subject to the right in question might reasonably be able to fetch in the open market; and
(d) the total market value of the subsequent right is similar to the total market value of the first right if it is not substantially greater than the first right.

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Source: https://www.legislation.gov.uk/uksi/2001/1004/schedule/3/part/IX/paragraph/1 (the official version)
Page: https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-3/part-IX/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.