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Social Security Contributions and Benefits (Northern Ireland) Act 1992

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Changes over time for: Section 15

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Version Superseded: 06/04/2000

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Point in time view as at 06/04/1999. This version of this provision has been superseded. Help about Status

Changes to legislation:

Social Security Contributions and Benefits (Northern Ireland) Act 1992, Section 15 is up to date with all changes known to be in force on or before 06 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

15 Class 4 contributions recoverable under the Income Tax Acts.N.I.

(1)Class 4 contributions shall be payable for any tax year in respect of all annual profits or gains which—

(a)are immediately derived from the carrying on or exercise of one or more trades, professions or vocations, and

(b)are profits or gains chargeable to income tax under Case I or Case II of Schedule D for the year of assessment corresponding to that tax year.

(2)Class 4 contributions in respect of profits or gains shall be payable—

(a)in the same manner as any income tax which is, or would be, chargeable in respect of those profits or gains (whether or not income tax in fact falls to be paid), and

(b)by the person on whom the income tax is (or would be) charged,

in accordance with assessments made from time to time under the Income Tax Acts as applied and modified by section 16(1) to (3) of the Great Britain Contributions and Benefits Act.

(3)A Class 4 contribution for any tax year shall be an amount equal to [F16 per cent.] of so much of the profits or gains referred to in subsection (1) above (as computed in accordance with Schedule 2 to the Great Britain Contributions and Benefits Act, the text of which is set out as Schedule 2 to this Act) as exceeds [F2£7,530] and does not exceed [F2£26,000].

(4)The reference in subsection (1) above to profits or gains chargeable to income tax under Case I or Case II of Schedule D shall be taken to include a reference to profits or gains consisting of a payment of enterprise allowance chargeable to income tax under Case VI of Schedule D by virtue of section 127(2) of the M1Income and Corporation Taxes Act 1988.

(5)For the purposes of this section the year of assessment which corresponds to a tax year is the year of assessment (within the meaning of the Tax Acts) which consists of the same period as that tax year.

Textual Amendments

F1Words in s. 15(3) substituted (6.4.1996) by S.R. 1996/72, art. 5(a)

F2Words in s. 15(3) substituted (6.4.1999) by S.R. 1999/51, art. 4

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