Regulation 2 Amendment of regulation 32 of the principal Regulations

In regulation 32(1) of the principal Regulations (return of contributions)^f1 for the words from the beginning of sub-paragraph (b) to the end of paragraph (1), there shall be substituted the following sub-paragraph–

“(b)

in the case of–

(i)

Class 1 contributions, or

(ii)

Class 2 contributions paid in excess of the amount prescribed in regulation 17,

• does not exceed the amount of one fifteenth of a standard rate contribution payable on earnings at the upper earnings limit in respect of primary Class 1 contributions prescribed in regulation 7 of these Regulations for the last or only year in respect of which the contributions were paid.”.