Section 143 Power to alter contributions with a view to adjusting level of National Insurance Fund

United Kingdom

C1(1)

Without prejudice to section 141 above, the F1Treasury may at any time, if F2they think it expedient to do so with a view to adjusting the level at which the National Insurance Fund stands for the time being and having regard to the sums which may be expected to be paid from the Fund in any future period, make an order amending Part I of the Contributions and Benefits Act by altering any one or more of the following figures—

F3(a)

the percentage rate specified as the F4main primary percentage in section 8(2)(a);

(b)

the percentage rate specified as the secondary percentage in section 9(2),

(c)

the figure specified in F5section F611(6) as the weekly rate of Class 2 contributions;

(d)

the figure specified in section 13(1) as the amount of a Class 3 contribution;

(e)

the percentage rate F7specified as the main Class 4 percentage in section 15(3ZA)(a).

F8(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

An order under subsection (1) above may if it contains an amendment altering the figure specified in F9section F1011(6) of the Contributions and Benefits Act as the weekly rate of Class 2 contributions and the F11Treasury think it expedient in consequence of that amendment, amend section 11(4) of that Act by altering the figure there specified as the F12F13small profits threshold for the purposes of Class 2 contributions.

(4)

No order shall be made under this section so as—

C2(F14a)

to increase for any tax year the F15main primary percentage, or the secondary percentage, to a percentage rate more than 0.25 per cent higher than that applicable at the end of the preceding tax year, or

(b)

to increase the F16main Class 4 percentage to more than F179.25 percent.

Annotations

Textual amendments

F1: Words in s. 143(1) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(2)(a); S.I. 1999/527, art. 2(b), Sch. 2
F2: Words in s. 143(1) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(2)(b); S.I. 1999/527, art. 2(b), Sch. 2
F3: S.143(1)(a)(b) substituted (6.4.1999) by Social Security Act 1998 (c. 14), s. 87(2), Sch. 7 para. 90(1); S.I. 1999/418, art. 2
F4: Words in s. 143(1)(a) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(a)
F5: Words in s. 143(1)(c) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(2) (with Sch. 1 para. 35)
F6: Word in s. 143(1)(c) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(a)(7)
F7: Words in s. 143(1)(e) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(b)
F8: S. 143(2) repealed (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 2
F9: Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(a) (with Sch. 1 para. 35)
F10: Word in s. 143(3) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(b)(i)(7)
F11: Words in s. 143(3) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(3); S.I. 1999/527, art. 2(b), Sch. 2
F12: Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(b) (with Sch. 1 para. 35)
F13: Words in s. 143(3) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(b)(ii)(7)
F14: S.143(4)(a) substituted (6.4.1999) by Social Security Act 1998 (c. 14), s. 87(2), Sch. 7 para. 90(2); S.I. 1999/418, art. 2
F15: Word in s. 143(4)(a) inserted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(a)
F16: Words in s. 143(4)(b) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(b)
F17: Figure in s. 143(4)(b) substituted (6.4.2011) by National Insurance Contributions Act 2011 (c. 3), ss. 2(2), 13(1)

Modifications

C1: S. 143(1) modified (25.3.2020) by Coronavirus Act 2020 (c. 7), ss. 72(1)(2), 87(1)
C2: S. 143(4)(a) excluded (25.3.2020) by Coronavirus Act 2020 (c. 7), ss. 72(1)(3), 87(1)