Delayed payment of pension contributions
114(1)This paragraph applies where—
(a)a debit in respect of pension contributions is recognised by a company for accounting purposes, and
(b)the contributions are not paid until after the end of the period of account in which the debit is recognised.
(2)Where this paragraph applies, the contributions shall be brought into account for the purposes of this Schedule only when they are paid.
(3)For the purposes of this paragraph “pension contributions” means—
(a)sums paid by an employer by way of contributions under a scheme to which section 592 of the Taxes Act 1988 applies (exempt approved schemes),
(b)sums paid to the trustees of such a scheme that are treated for the purposes of that section as employer’s contributions (see subsection (6A) of that section), or
(c)expenses within section 76(5) or (6) of the Finance Act 1989 (c. 26) (expenses of providing benefits under non-approved retirement benefit scheme).
(4)Any adjustment required by this paragraph of an accounting debit that is partly referable to an amount to which this paragraph applies and partly to other matters shall be made on a just and reasonable basis.