SCHEDULE 2 CALCULATION OF EARNINGS FOR THE PURPOSES OF EARNINGS-RELATED CONTRIBUTIONS IN PARTICULAR CASES
Convertible and restricted interests in securities and convertible and restricted securities
F17.
(1)
The amount of earnings comprised in any payment by way of the conferment of—
(a)
a convertible interest in securities;
(b)
a restricted interest in securities; or
(c)
an interest in convertible or restricted securities,
falling to be taken into account in computing a person’s earnings from employed earner’s employment shall be computed in the same manner, and shall be taken into account at the same time, as applies under Chapters 1 to 5 of Part 7 of ITEPA 2003, for the purpose of computing his employment income.
This is subject to the following qualification.
(2)
For the purpose of sub-paragraph (1) no account shall be taken of any relief obtained under sections 428A or 442A of ITEPA 2003 (relief for secondary Class 1 contributions met by employee).