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HMRC internal manual

National Insurance Manual

NICs avoidance: retrospective legislation: employment-related securities

Regulation 22(9) and 22(10) of the Social Security (Contributions) Regulations 2001

Regulation 2 of the Social Security (Contributions)(Amendment No 2) Regulations (SI 2007 No 1057)

The power to make regulations to treat amounts which count as employment income for income tax purposes as earnings for NICs purposes, with retrospective effect, enabled sub-paragraphs 9 and 10 to be inserted into regulation 22 of the SS(C)R 2001. Regulation 22 lists amounts treated as earnings.

The changes came into force on 6 April 2007 but had retrospective effect from 2 December 2004.

For details about the amounts treated as earnings, see NIM06842 and NIM06843.

The powers provided for within the NICA 2006 are explained at NIM50250.