The Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations 2015

Amendments to the Social Security (Contributions) Regulations 2001

4.  In Regulation 11 (prescribed equivalents)—

(a) in paragraph (2A)—

(i) in sub-paragraph (a) for “£3,489” substitute “£3,532”; and

(ii) in sub-paragraph (b) for “£41,865” substitute “£42,385”;

(b) in paragraph (3)—

(i) in sub-paragraph (a) for “£663” substitute “£672”; and

(ii) in sub-paragraph (b) for “£7,956” substitute “£8,060”;

(c) in paragraph (3A)—

(i) in sub-paragraph (a) for “£663” substitute “£676”; and

(ii) in sub-paragraph (b) for “£7,956” substitute “£8,112”;

(d) after paragraph (3A) insert—

“(3B) Subject to paragraphs (4) and (5), the prescribed equivalents of the upper secondary threshold for secondary Class 1 contributions in relation to the Under 21 age group shall be—

(a) where the earnings period is a month, £3,532;

(b) where the earnings period is a year, £42,385;

(c) where the earnings period is a multiple of a week, the amount calculated by dividing the figure in sub-paragraph (b) by 52 and multiplying the result by the corresponding multiple;

(d) where the earnings period is a multiple of a month, the amount calculated by dividing the figure in sub-paragraph (b) by 12 and multiplying the result by the corresponding multiple;

(e) in any other case, the amount calculated by dividing the figure in sub-paragraph (b) by 365 and multiplying the result by the number of days in the earnings period concerned.”;

(e) in paragraph (4) for “and paragraph (3A)(c) and (d)” substitute “, paragraph (3A)(c) and (d) and paragraph (3B)(c) and (d)”; and

(f) in paragraph (5) for “and paragraph (3A)(e)” substitute “, paragraph (3A)(e) and paragraph (3B)(e)”.