Alteration of reduced rates of Class 1 contributions for salary related contracted-out schemes
This section has no associated Explanatory Memorandum
2.—(1) This article applies for the purposes of section 41 of the 1993 Act (reduced rates of Class 1 contributions).
(2) In section 41(1A) of the 1993 Act (reduced rates of primary Class 1 contributions in contracted-out employment) for “1.6 per cent” substitute “1.4 per cent”.
(3) In section 41(1B) of the 1993 Act (reduced rates of secondary Class 1 contributions in contracted-out employment) for “3.7 per cent” substitute “3.4 per cent”.