The Social Security (Contributions) Regulations 2001

Changes over time for: Section 11

Version Superseded: 06/04/2022

Status:

Point in time view as at 06/04/2021. This version of this provision has been superseded.

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Prescribed equivalentsU.K.

11.—(1) The prescribed equivalents of the lower and upper earnings limits[F1, the primary and secondary thresholds and the upper secondary thresholds], for the purposes of—

(a)sections 6(1), 6A(1), 8(1), [F29(1), 9A(9), and 9B(6)] of the Act (which provide liability for Class 1 contributions, notional payment of primary Class 1 contribution where earnings are not less than the lower earnings limit, the calculation of primary Class 1 contributions[F3, the calculation of secondary Class 1 contributions, the calculation of secondary Class 1 contributions in relation to the Under 21 age group and the calculation of secondary Class 1 contributions in relation to relevant apprentices] respectively)F4; [F5and]

[F6(aa)section 22 of the Act (earnings factors); F7...]

F7(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

shall be determined in accordance with paragraphs (2) to (5).

[F8(1A) [F9The prescribed equivalents of the upper accrual point for the purposes of—

(a)section 22 of the Act (earnings factors); and

(b)sections 41(1) (reduced rates of Class 1 contributions), 42A(1) (reduced rates of Class 1 contributions and rebates) and 45(1) (amount of minimum contributions) of the Pensions Act,

shall be determined in accordance with paragraphs (2), (4) and (5).]]

(2) [F10Subject to paragraphs (4) and (5), the prescribed equivalents of the lower earnings limit F11... shall be—

(a)where the earnings period is a multiple of a week, the [F12amount] calculated by multiplying the lower earnings limit F13... by the corresponding multiple;]

(b)where the earnings period is a month, the [F12amount] calculated by multiplying [F14the lower earnings limit] by 4 1/3;

(c)where the earnings period is a multiple of a month, the [F12amount] calculated by multiplying [F14the lower earnings limit] by 4 1/3 and multiplying [F15the result] by the corresponding multiple;

(d)in any other case, the [F12amount] calculated by dividing [F14the lower earnings limit] by 7 and multiplying [F15the result] by the number of days in the earnings period concerned.

[F16(2A) Subject to paragraphs (4) and (5), the prescribed equivalents of the upper earnings limit shall be—

(a)where the earnings period is a month, [F17£4,189;]

(b)where the earnings period is a year, [F18£50,270;]

(c)where the earnings period is a multiple of a week, the amount calculated by dividing the figure in sub-paragraph (b) by 52 and multiplying the result by the corresponding multiple;