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The Social Security (Contributions) Regulations 2001
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Changes to legislation:
The Social Security (Contributions) Regulations 2001, Paragraph 29S is up to date with all changes known to be in force on or before 26 February 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.
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Changes and effects yet to be applied to Schedule 4 Paragraph 29S:
- Sch. 4A para. 7A inserted by S.I. 2025/144 reg. 2(2)(a)
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Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- Sch. 4A para. 7A inserted by S.I. 2025/144 reg. 2(2)(a)
[F1Application for reduction in the value of security heldU.K.
29S.—(1) A person who has given security (“PGS”) may apply to an officer of Revenue and Customs for a reduction in the value of security held by HMRC if—
(a)PGS' circumstances have changed since the day the security was given because—
(i)of hardship; or
(ii)PGS has ceased to be a person mentioned in paragraph 29P(1); or
(b)since the day the security was given there has been a significant reduction in the number of employed earners of the employer to whom the security relates or that employer has ceased to be an employer.
(2) Where paragraph 29P(2)(b) applies, a person who has not contributed to the value of the security given may not make an application under sub-paragraph (1).]
Textual Amendments
F1Sch. 4 Pt. 3B inserted (6.4.2012) by The Social Security (Contributions) (Amendment No. 3) Regulations 2012 (S.I. 2012/821), regs. 1(1), 18
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