The Small Companies and Groups (Accounts and Directors' Report) Regulations 2008

Staff costs U.K.

11.—(1) “ Social security costs” means any contributions by the company to any state social security or pension scheme, fund or arrangement.

(2) “Pension costs” includes—

(a) any costs incurred by the company in respect of any pension scheme established for the purpose of providing pensions for persons currently or formerly employed by the company,

(b) any sums set aside for the future payment of pensions directly by the company to current or former employees, and

(c) any pensions paid directly to such persons without having first been set aside.

(3) Any amount stated in respect of the item “social security costs” or in respect of the item “wages and salaries” in [F1 the profit and loss account Formats 2 and 4 in Section B of Part 1 of Schedule 1] must be determined by reference to payments made or costs incurred in respect of all persons employed by the company during the financial year under contracts of service.

Textual Amendments

F1 Words in Sch. 8 para. 11(3) substituted (with effect in accordance with reg. 2(2) of the amending S.I.) by The Small Companies (Micro-Entities Accounts) Regulations 2013 (S.I. 2013/3008), regs. 2(1), 13(3) (with reg. 3)

Modifications etc. (not altering text)

C1 Sch. 8 applied (with modifications) (E.W.S.) (with application in accordance with reg. 2(2) of the amending S.I.) by The Small Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1912), regs. 2(1), 8(2), Sch. 5 (with reg. 2(3)) 9as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 45)