# The Social Security (Contributions) Regulations 2001, Paragraph 18: Payment of interest on repaid earnings-related contributions or Class 1B contributions

Extent: E+W+S+N.I.

(1) Where an earnings-related contribution paid by an employer in respect of the year ended 5th April 1993 or any subsequent year not later than the year ended 5th April 1999 is repaid to him and that repayment is made after the relevant date, any such repaid contribution shall carry interest at the rate applicable under paragraph 6(3) of Schedule 1 to the Act from the relevant date until the order for the repayment is issued.
(2) For the purposes of sub-paragraph (1) “the relevant date” is—
(a) in the case of an earnings-related contribution overpaid more than 12 months after the end of the year in respect of which the payment was made, the last day of the year in which it was paid; and
(b) in any other case, the last day of the year after the year in respect of which the contribution in question was paid.
(3) Where ... a Class 1B contribution paid by an employer in respect of the year ended 5th April 2000 or any subsequent year is repaid to him and that repayment is made after the relevant date, any such repaid contribution shall carry interest at the rate applicable under paragraph 6(3) of Schedule 1 to the Act from the relevant date until the order for the repayment is issued.
(4) For the purpose of sub-paragraph (3) “the relevant date” is—
(a) in the case of—
(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ii) a Class 1B contribution, the 19th October next following the year in respect of which that contribution was paid; or
(b) the date on which the ... Class 1B contribution was paid if that date is later than the date referred to in paragraph (a).

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Source: https://www.legislation.gov.uk/uksi/2001/1004/schedule/4/paragraph/18 (the official version)
Page: https://openlegislation.uk/social-security-contributions-regulations-2001/schedule-4/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.