ScheduleTransitional and consequential provision
I12Annual maximum contributions for the tax year 2023-24
1
The Social Security (Contributions) Regulations 2001 are amended as follows.
2
In regulation 21 (annual maxima for those with more than one employment)—
a
in paragraph (2), in Step Two, for “12 per cent” substitute “11.5%”
, and
b
in paragraph (3), for “12 per cent” substitute “the rate specified as the main primary percentage”
.
3
In regulation 100 (annual maximum of Class 4 contributions), in paragraph (4), for “12 per cent” substitute “the rate specified as the main primary percentage”
.
4
The amendments made by this paragraph are treated as having come into force on 6 April 2023.