Regulation 4 Amendments to the Social Security (Contributions) Regulations 2001

In Regulation 11 (prescribed equivalents)—

(a)

in paragraph (2A)—

(i)

in sub-paragraph (a) for “£3,489” substitute “£3,532”; and

(ii)

in sub-paragraph (b) for “£41,865” substitute “£42,385”;

(b)

in paragraph (3)—

(i)

in sub-paragraph (a) for “£663” substitute “£672”; and

(ii)

in sub-paragraph (b) for “£7,956” substitute “£8,060”;

(c)

in paragraph (3A)—

(i)

in sub-paragraph (a) for “£663” substitute “£676”; and

(ii)

in sub-paragraph (b) for “£7,956” substitute “£8,112”;

(d)

after paragraph (3A) insert—

“(3B)
Subject to paragraphs (4) and (5), the prescribed equivalents of the upper secondary threshold for secondary Class 1 contributions in relation to the Under 21 age group shall be—

(a)
where the earnings period is a month, £3,532;

(b)
where the earnings period is a year, £42,385;

(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.”;

(e)

in paragraph (4) for “and paragraph (3A)(c) and (d)” substitute “, paragraph (3A)(c) and (d) and paragraph (3B)(c) and (d)”; and

(f)

in paragraph (5) for “and paragraph (3A)(e)” substitute “, paragraph (3A)(e) and paragraph (3B)(e)”.