1Reduction in rates
1
In the following provisions—
a
section 8(2)(a) of the Social Security Contributions and Benefits Act 1992 (main primary percentage for Great Britain), and
b
section 8(2)(a) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (main primary percentage for Northern Ireland),
for “10%” substitute “8%”
.
2
In regulation 131 of the Social Security (Contributions) Regulations 2001 (reduced rate of primary Class 1 contributions otherwise payable at the main primary percentage), for “3.85%” substitute “1.85%”
.
3
In the following provisions (as they had effect immediately before the day on which this Act comes into force)—
a
section 15(3ZA)(a) of the Social Security Contributions and Benefits Act 1992 (main Class 4 percentage for Great Britain), and
b
section 15(3ZA)(a) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (main Class 4 percentage for Northern Ireland),
for “9 per cent” substitute “6%”
.
4
Section 2 of the National Insurance Contributions (Reduction in Rates) Act 2023 is superseded by subsection (3) and accordingly is to be treated as never having had effect.