SCHEDULE 3 PAYMENTS TO BE DISREGARDED IN THE CALCULATION OF EARNINGS FOR THE PURPOSES OF EARNINGS-RELATED CONTRIBUTIONS

PART I INTRODUCTORY

1.

(1)

This Schedule contains provisions about payments which are to be disregarded in the calculation of earnings for the purposes of earnings-related contributions.

(2)

Part II contains provisions about the treatment of payments in kind.

(3)

Part III and IV specifies payments by way of assets which are not to be disregarded by virtue of paragraph 1 of Part II.

(4)

Part V specifies non-cash vouchers which are to be disregarded by virtue of paragraph 1 of Part II.

(5)

In computing earnings there are also to be disregarded—

(a)

the pensions and pension contributions specified in Part VI;

(b)

the payments in respect of training and similar courses specified in Part VII;

(c)

the travelling, relocation and overseas expenses specified in Part VIII;

(d)

the F1incentives by way of securities specified in Part IX; and

(e)

the miscellaneous payments specified in Part X.