The Social Security (Contributions) (Amendment No. 5) Regulations 2023

• Citation: S.I. 2023/773
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Social Security (Contributions) (Amendment No. 5) Regulations 2023 and come into force on 1st August 2023.

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

In Part 10 of Schedule 3 to the Social Security (Contributions) Regulations 2001 (payments to be disregarded in the calculation of earnings for the purposes of earnings-related contributions) after paragraph 26 insert—

Post Office Horizon Shortfall Scheme compensation payments

(27)

(1) A top-up payment made by Post Office Limited to a recipient of a compensation payment from the Horizon Shortfall Scheme for the purpose of topping-up that compensation payment to account for sums lost to tax.

(2) In this paragraph—

“ Horizon Shortfall Scheme ” means the compensation scheme created on 1st May 2020 by Post Office Limited to compensate people who were adversely affected by accounting shortfalls related to the Horizon system;

“ the Horizon System ” and “ Post Office Limited ” have the same meaning as in paragraph 26(3).