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HMRC internal manual

National Minimum Wage Manual

From
HM Revenue & Customs
Updated
, see all updates

Pay reference periods & elements of pay: shares and securities

Relevant legislation

The legislation that applies to this page is as follows:

For pay reference periods commencing

* on or after 6 April 2015; National Minimum Wage Regulations 2015, regulations 9(1) & 10
* before 6 April 2015; National Minimum Wage Regulations 1999 regulation 8

Payment by way of shares is not a payment for national minimum wage purposes (NMWM09060). Therefore the value of any shares given to the worker by the employer or a third party, do not count towards a worker’s total remuneration (NMWM09050) and are not taken into account when calculating national minimum wage pay.

For dividends: See (NMWM09160).