Social Security (Contributions) (Amendment No. 5) Regulations 2001
| Jurisdiction | UK Non-devolved |
2001 No. 2412
SOCIAL SECURITY
The Social Security (Contributions) (Amendment No. 5) Regulations 2001
Made 4th July 2001
Laid before Parliament 5th July 2001
Coming into force 26th July 2001
The Treasury, with the concurrence of the Secretary of State in so far as required, in exercise of the powers conferred on them by sections 3(2) and (3), 10(9) and 175(1) to (3) of the Social Security Contributions and Benefits Act 19921and,with the concurrence of the Department for Social Development in so far as required, in exercise of the powers conferred on them by sections 1(6) and (7), 3(2), (2A) and (3), 4(6) and (7), 10(9), 13(1) and 171(3), (4) and (10) of, and paragraph 6(1)(a) and (b) of Schedule 1 to, the Social Security Contributions and Benefits (Northern Ireland) Act 19922and section 78(9) of the Child Support, Pensions and Social Security Act 20003and the Commissioners of Inland Revenue, in exercise of the powers conferred on them by paragraph 6(1)(a) and (b) of Schedule 1 to the Social Security Contributions and Benefits (Northern Ireland) Act 19924, and of all other powers respectively enabling them in that behalf, hereby make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Social Security (Contributions)(Amendment No.5) Regulations 2001 and shall come into force on 26th July 2001.
Amendment of the Social Security (Contributions) Regulations 2001
2. Amend the Social Security (Contributions) Regulations 20015in accordance with regulations 3 to 5.
3.—(1) Amend regulation 40 (prescribed emoluments in respect of which Class 1A contributions not payable) as follows.
(2) In paragraph (2)—
(a)
(a) before sub-paragraph (a) insert—
“(za)
“(za) in Part V, paragraph 6A;”; and
(b)
(b) in sub-paragraph (d) for “9 and 11 to 13” substitute “9, 11 to 13 and 15”.
(3) In paragraph (7) omit sub-paragraph (a).
4. In paragraph 14(3)(b) of Schedule 2 (calculations of earnings for the purposes of earnings-related contributions in particular cases) for “the limit specified in Inland Revenue Extra-Statutory Concession A2 (luncheon vouchers) as published at 1st September 2000” substitute “15 pence,”.
5.—(1) Amend Schedule 3 (payments to be disregarded in the calculation of earnings for the purposes of earnings-related contributions) as follows.
(2) In Part V (non-cash vouchers)—
(a)
(a) in paragraph 6 omit sub-paragraph (a);
(b)
(b) after paragraph 6 insert—
“Meal vouchers
6A. 15 pence per working day up to a maximum of £1.05 per week of the value of one or more non-cash vouchers which can only be exchanged for meals.”.
(3) In Part IX (share incentives), after paragraph 3 insert—
““Short” share options granted on or after 6th April 1999
3A. A payment by way of the grant of a right to acquire shares obtained on, or after, 6th April 1999 which is not capable of being exercised more than ten years after it is obtained.”.
(4) In Part X (miscellaneous and supplemental)—
(a)
(a) in paragraph 1(1) for “14” substitute “15”; and
(b)
(b) after paragraph 14 add—
“Rewards for assistance with lost or stolen cards
15.—(1) A payment made by an issuer of charge cards, cheque guarantee cards, credit cards or debit cards, as a reward to an individual who assists in identifying or recovering lost or stolen cards in the course of his or her employment as an employed earner (other than employment by the issuer), together with any income tax paid by the issuer for the purpose of discharging any liability of the individual to income tax on the payment.
(2) In this paragraph—
“charge card” means a credit card, the terms of which include the obligations to settle the account in full at the end of a specified period;
“cheque guarantee card” means a card issued by a bank or building society for the purpose of guaranteeing a payment or supporting the encashment of a cheque up to a specified value;
“credit card” means a card...
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