Percentage rate of and lower and upper limits for Class 4 contributions4

In each of sections 15(3) and 18(1) of the Act13 and sections 15(3) and 18(1) of the Northern Ireland Act14 (Class 4 contributions recoverable under the Income Tax Acts and under regulations)—

a

for “6” (percentage rate) there shall be substituted “7”;

b

for “£7,530” (lower limit) in each place where it appears, there shall be substituted “£4,385”;

c

for “£26,000” (upper limit) there shall be substituted “£27,820”.