The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2020
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King's Printer of Acts of Parliament
2020-03-16
SOCIAL SECURITY
These Regulations amend the Social Security Contributions and Benefits Act 1992 (c. 4) and corresponding provisions in the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7) (“the Acts”), and the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) (“the Contributions Regulations”). The amendments have effect from 6th April 2020.
The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2020
PART 2Rates, limits and thresholds for National Insurance contributions
Lower limit of profits for Class 4 contributions5
In sections 15(3)(a) and 18(1)(c) and (1A)(a) of the Act17 and the Northern Ireland Act18 (Class 4 contributions recoverable under the Income Tax Acts and under regulations) for “£8,632” (lower limit) in each place where it appears substitute “£9,500”.