Amendments to the Social Security (Contributions) Regulations 2001
4.—(1) Amend regulation 11 (prescribed equivalents) as follows.
(2) Amend paragraph (2A) as follows—
(a)in sub-paragraph (a) for “£3,656” substitute “£3,540”; and
(b)in sub-paragraph (b) for “£43,875” substitute “£42,475”.
(3) Amend paragraph (3) as follows—
(a)in the introductory words for “the prescribed equivalents of the primary and secondary thresholds” substitute “the prescribed equivalents of the primary threshold”;
(b)in sub-paragraph (a) for “£476” substitute “£602”; and
(c)in sub-paragraph (b) for “£5,715” substitute “£7,225”.
(4) After paragraph (3) insert—
“(3A) Subject to paragraphs (4) and (5), the prescribed equivalents of the secondary threshold shall be—
(a)where the earnings period is a month, £589;
(b)where the earnings period is a year, £7,072;
(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;
(d)where the earnings period is a multiple of a month, the amount calculated by dividing the figure in sub-paragraph (b) by 12 and multiplying the result by the corresponding multiple;
(e)in any other case, the amount calculated by dividing the figure in sub-paragraph (b) by 365 and multiplying the result by the number of days in the earnings period concerned.”
(5) In paragraph (4) for “and paragraph (3)(c) and (d)” substitute “, paragraph (3)(c) and (d) and paragraph (3A)(c) and (d)”.
(6) In paragraph (5) for “and paragraph (3)(e)” substitute “, paragraph (3)(e) and paragraph (3A)(e)”.