PART 2Rates, limits and thresholds for National Insurance contributions

InterpretationI52

In this Part—

  • “the Act” means the Social Security Contributions and Benefits Act 1992; and

  • “the Northern Ireland Act” means the Social Security Contributions and Benefits (Northern Ireland) Act 1992.

Annotations:
Commencement Information
I5

Reg. 2 in force at 6.4.2023, see reg. 1

Rate of and lower profits threshold for Class 2 contributionsI13

In section 11 of the Act14 and the Northern Ireland Act15 (Class 2 contributions)—

a

in subsections (2) and (6) for “£3.15” substitute “£3.45”; and

b

in subsection (4)(a) (lower profits threshold) for “£11,908” substitute “£12,570”.

Annotations:
Commencement Information
I1

Reg. 3 in force at 6.4.2023, see reg. 1

Amount of a Class 3 contributionI24

In section 13(1) of the Act16 and the Northern Ireland Act17 (Class 3 contributions) for “£15.85” substitute “£17.45”.

Annotations:
Commencement Information
I2

Reg. 4 in force at 6.4.2023, see reg. 1

Amendment to the Social Security (Contributions) Regulations 2001I35

In regulation 10 of the Social Security (Contributions) Regulations 200118 (earnings limits and thresholds) in the introductory words for “2022” substitute “2023”.

Annotations:
Commencement Information
I3

Reg. 5 in force at 6.4.2023, see reg. 1

Amendments to the National Insurance Contributions Act 2022I46

In section 8 of the National Insurance Contributions Act 2022 (upper secondary threshold for earnings: freeport tax site employees and armed forces veterans)—

a

in subsection (1) for “year beginning with 6 April 2022” substitute “years beginning with 6 April 2022 and 6 April 2023”; and

b

in subsection (2) for “and 6 April 2022” substitute “, 6 April 2022 and 6 April 2023”.