NIM02732 - Earnings of employees and office holders: retirement benefits schemes from 6th April 2006 - overseas pension schemes: employer's payments that qualify for migrant member relief or transitional corresponding tax relief: benefits referable to such
Paragraph 3(c) of Part 6 of Schedule 3 to the Social Security (Contributions) Regulations 2001 (as substituted by regulation 8(3) of the Social Security (Contributions) (Amendment No. 2) Regulations 2006)
Paragraph 2 of Schedule 33 to the Finance Act 2004
Article 15 of the Taxation of Pension Schemes (Transitional Provisions) Order 2006 (SI2006/572)
NIM02731 explains that a payment by way of an employer바카라 사이트™s payment to which either:
- paragraph 2 of Schedule 33 (tax relief for employer contributions to a qualifying overseas pension scheme); or
- article 15 of the above Order (employers with pre-commencement entitlement to corresponding relief)
applies, is disregarded in the calculation of earnings for Class 1 NICs purposes.
Also disregarded in the calculation of earnings is any benefit which is referable to an employer바카라 사이트™s payment to which either of the above provisions applies.
For details of the Class 1A NICs position, see NIM14510