The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2020 No. 299

PART 2 Rates, limits and thresholds for National Insurance contributions

Rate of and small profits threshold for Class 2 contributions

3.  In section 11 of the Act(1) and the Northern Ireland Act(2) (Class 2 contributions)—

(a) in subsections (2) and (6) for “£3.00” substitute “£3.05”; and

(b) in subsection (4) (small profits threshold) for “£6,365” substitute “£6,475”.

(1)

Section 11 was substituted by paragraph 3 of Schedule 1 to the NICA 2015. The figures in subsections (2), (4) and (6) were last substituted by S.I. 2019/262.

(2)

Section 11 was substituted by paragraph 12 of Schedule 1 to the NICA 2015. The figures in subsections (2), (4) and (6) were last substituted by S.I. 2019/262.