NIM04003 - Class 1: Avoidance - Legislation - Part IV Schedule 2 SSCR 2001 from 7 November 1991

Social Security (Contributions) Amendment (No.6) Regulations 1991

Anti-avoidance measures were introduced to amend Regulation 19(1)(d). The conferment of a beneficial interest (transfer of legal ownership of an asset from the employer to the employee) in a wide range of assets were no longer regarded as a payment in kind and were brought into charge for Class 1 purposes.

Assets included :

• Stocks and shares
• Debentures
• Loan stock
• Units
• Options to acquire or dispose of gold, silver or platinum