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Social Security Administration Act 1992

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Changes over time for: Section 143

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Status:

Point in time view as at 17/01/2025.

Changes to legislation:

Social Security Administration Act 1992, Section 143 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

143Power to alter contributions with a view to adjusting level of National Insurance FundU.K.

(1)Without prejudice to section 141 above, the [F1Treasury] may at any time, if [F2they think] it expedient to do so with a view to adjusting the level at which the National Insurance Fund stands for the time being and having regard to the sums which may be expected to be paid from the Fund in any future period, make an order amending Part I of the Contributions and Benefits Act by altering any one or more of the following figures—

[F3(a)the percentage rate specified as the [F4main primary percentage in section 8(2)(a)];

(b)the percentage rate specified as the secondary percentage in section 9(2),]

(c)the figure specified in [F5section [F611(6)]] as the weekly rate of Class 2 contributions;

(d)the figure specified in section 13(1) as the amount of a Class 3 contribution;

(e)the percentage rate [F7specified as the main Class 4 percentage in section 15(3ZA)(a)].

F8(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)An order under subsection (1) above may if it contains an amendment altering the figure specified in [F9section [F1011(6)]] of the Contributions and Benefits Act as the weekly rate of Class 2 contributions and the [F11Treasury think] it expedient in consequence of that amendment, amend section 11(4) of that Act by altering the figure there specified as the [F12[F13small profits threshold] for the purposes of Class 2 contributions].

(4)No order shall be made under this section so as—

[F14(a)to increase for any tax year the [F15main] primary percentage, or the secondary percentage, to a percentage rate more than 0.25 per cent higher than that applicable at the end of the preceding tax year,] or

(b)to increase the [F16main Class 4 percentage] to more than [F179.25] percent.

Textual Amendments

F4Words in s. 143(1)(a) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(a)

F5Words in s. 143(1)(c) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(2) (with Sch. 1 para. 35)

F7Words in s. 143(1)(e) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(b)

F8S. 143(2) repealed (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 2

F9Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(a) (with Sch. 1 para. 35)

F12Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(b) (with Sch. 1 para. 35)

F15Word in s. 143(4)(a) inserted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(a)

F16Words in s. 143(4)(b) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(b)

F17Figure in s. 143(4)(b) substituted (6.4.2011) by National Insurance Contributions Act 2011 (c. 3), ss. 2(2), 13(1)

Modifications etc. (not altering text)

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