39Making of “employee benefit contributions”U.K.
This section has no associated Explanatory Notes
(1)For the purposes of section 38 the employer makes an “employee benefit contribution” if—
(a)the employer pays money or transfers an asset to another person (“the third party”), and
(b)the third party is entitled or required, under the terms of an employee benefit scheme, to hold or use the money or asset for or in connection with the provision of benefits to, or in respect of, present or former employees of the employer.
(2)For this purpose “employee benefit scheme” means a trust, scheme or other arrangement for the benefit of persons who are, or include, present or former employees of the employer.