Amendment of the Social Security (Contributions) Regulations 2001

2.  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)(1) after paragraph 31 insert—

Horizon Shortfall Scheme Appeals compensation payments

32.—(1) A payment made by the Department for Business and Trade to a person or a nominated individual under the Horizon Shortfall Scheme Appeals.

(2) A relevant onward payment of the payment defined in paragraph (1).

(3) In this paragraph—

“Horizon Shortfall Scheme” has the same meaning as in paragraph 27(2);

“Horizon Shortfall Scheme Appeals” means the independent appeals process created by the Department for Business and Trade to assess compensation claims made under the Horizon Shortfall Scheme;

“nominated individual” means any person who was a shareholder or a director of a company or a partner in a partnership which ceased to exist and that would have been eligible for compensation under the Horizon Shortfall Scheme Appeals;

“relevant onward payment” has the same meaning as in paragraph 28(5).”