The Social Security (Class 2 National Insurance Contributions Increase of Threshold) Regulations 2022

References to the lower profits threshold (primary legislation)

This section has no associated Explanatory Memorandum

4.—(1) In section 141 of the Social Security Administration Act 1992(1), in subsection (4)(b)—

(a)for “figure” substitute “figures”;

(b)after “as” insert “the lower profits threshold and as”.

(2) In section 143 of that Act(2), in subsection (3), for “small profits threshold” substitute “lower profits threshold”.

(1)

1992 c. 5; section 141(4) was amended by paragraph 16 of Schedule 1 to the National Insurance Contributions Act 2002 (c. 19) and paragraph 20 of Schedule 1 to the NICA 2015.

(2)

Section 143(3) was amended by paragraph 46 of Schedule 3 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2) and paragraph 21 of Schedule 1 to the NICA 2015.