The Social Security (Contributions) (Amendment No. 3) Regulations 2014

• Citation: S.I. 2014/1016
• Sections: 2

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the Social Security (Contributions) (Amendment No. 3) Regulations 2014 and come into force on 6th May 2014.

(2) These Regulations have effect in relation to amounts which are due and payable for the tax year 2014-15 and subsequent tax years.

Section 2 Amendment of the Social Security (Contributions) Regulations 2001

Schedule 4 to the Social Security (Contributions) Regulations 2001 (provisions derived from the Income Tax Acts and the Income Tax (Pay As You Earn) Regulations 2003) is amended as follows—

(a) insert after paragraph 10(3A) (payment of earnings-related contributions monthly by employer) —

(4) Where the amount specified in sub-paragraph (2) has been adjusted to take account of an error as provided for in sub-paragraph (3A) and the value of the adjustment is a negative amount, that amount is treated as having been paid to HMRC —

(a) 17 days after the end of the tax month in which the correction is made if payment is made using an approved method of electronic communications , and

(b) 14 days after the end of the tax month in which the correction is made, in any other case.

(b) insert after paragraph 11(3A) (payment of earnings-related contributions quarterly by employer) —

(3B) Where the amount specified in sub-paragraph (2) has been adjusted to take account of an error as provided for in sub-paragraph (3A) and the value of the adjustment is a negative amount, that amount is treated as having been paid to HMRC—

(a) 17 days after the end of the tax quarter in which the correction is made if payment is made using an approved method of electronic communications, and

(b) 14 days after the end of the tax quarter in which the correction is made, in any other case.

(c) insert after paragraph 11ZA(3) (payments to and recoveries from HMRC for each tax period by Real Time Information employers: returns under paragraph 21E(6) or 21EA(3)) —

(3A) Where sub-paragraph (3) applies the negative amount is treated as having been paid to HMRC—

(a) 17 days after the end of the final tax period in the year covered by the return where payment is made using an approved method of electronic communication, and

(b) 14 days after the end of the final tax period in the year covered by the return in any other case.