SCHEDULE

Social Security Administration (Northern Ireland) Act 19924

In section 115B of the Social Security Administration (Northern Ireland) Act 1992 (liability of directors, etc. for company’s contributions)7—

a

in subsection (5) for “at the prescribed rate” substitute “at the Class 1 rate on the Class 1 element of the specified sums, and otherwise at the prescribed rate,”;

b

in subsection (7)(c) after “interest on it” insert “at the Class 1 rate on the Class 1 element of it and otherwise”; and

c

in subsection (9)—

i

before the definition of “contributions” insert—

  • “the Class 1 rate”—

    1. a

      in subsection (5) means the rate from time to time applicable under section 103(1) of the Finance Act 2009; and

    2. b

      in subsection (7)(c) means the rate from time to time applicable under section 103(2) of that Act;

  • “the Class 1 element”, in relation to any amount, means so much of that amount as is calculated by—

    1. a

      multiplying that amount by so much of the specified amount as consists of Class 1 contributions; and

    2. b

      dividing the product of that multiplication by the specified amount;

ii

in the definition of “contributions” after “in respect of contributions” insert “(and accordingly, in the definition of “the Class 1 element” given by this subsection, “Class 1 contributions” includes any interest or penalty in respect of Class 1 contributions)”.