Point in time view as at 06/04/2001. This version of this provision no longer has effect.
The Social Security (Contributions) Regulations 2001, Paragraph 1 is up to date with all changes known to be in force on or before 01 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.
1.—(1) Payments by way of—
(a)shares;
(b)conditional interests in shares; and
(c)other rights in or over shares;
respectively mentioned in this Part are disregarded in the calculation of an employed earner’s earnings.
(2) For the purposes of paragraphs 13, 15 and 16—
(a)“body corporate” includes—
(i)a body corporate constituted under the law of a country or territory outside the United Kingdom, and
(ii)an unincorporated association wherever constituted;
(b)“total discount” means the difference between the total value of the exercise price of the shares that are subject to the right in question and the total market value of that right;
(c)“total market value” means the price which the shares that are subject to the right in question might reasonably be able to fetch in the open market; and
(d)the total market value of the subsequent right is similar to the total market value of the first right if it is not substantially greater than the first right.
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