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Changes over time for: Cross Heading: Contributions equivalent premiums: earnings before 1987-88


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/05/2021.
Changes to legislation:
Pension Schemes Act 1993, Cross Heading: Contributions equivalent premiums: earnings before 1987-88 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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Contributions equivalent premiums: earnings before 1987-88U.K.
14(1)Where an earner’s earnings paid in any period before the tax year 1987-88—U.K.
(a)exceeded the lower earnings limit; but
(b)were not such that primary Class 1 contributions within Bracket 3 fell to be paid in respect of them,
it shall be assumed for the purposes of sections 58(4) and 61(2) that his earnings paid in that period were such that, taking the rate specified in Bracket 3 as the appropriate rate, the same amount of primary Class 1 contributions fell to be paid in respect of them as in fact fell to be paid in respect of them; and in this paragraph “Bracket 3” has the meaning given in section 9(3) of the Social Security Contributions and Benefits Act 1992.
(2)Section 63(3) applies for the purposes of sub-paragraph (1), in so far as it applies as respects section 58(4), as if the reference in paragraph (b) of section 63(3) to earnings included a reference to earnings relevant for any purpose of that sub-paragraph.
(3)Where the [Inland Revenue have] acted in pursuance of section 63(3) as applied by sub-paragraph (2) and [they subsequently ascertain] the amount of those earnings—
(a)if it appears to [them] that the amount of the contributions equivalent premium would have been less if [they] had not made the calculation on the basis described in sub-paragraph (1), [they] shall refund the difference to the prescribed person, and
(b)if it appears to the [Inland Revenue] that that premium would have been greater if [they] had not done so, the prescribed person shall pay the difference to [them].
Textual Amendments
Marginal Citations
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