OpenLegislation

The Social Security (Contributions) Amendment Regulations 1998

S.I. 1998/523 · Made 3 March 1998

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

SOCIAL SECURITY

Made 3rd March 1998

Laid before Parliament 10th March 1998

Coming into force 6th April 1998

The Secretary of State for Social Security, in exercise of powers conferred by sections 5 and 175(1) to (3) of the Social Security Contributions and Benefits Act 1992f1 and of all other powers enabling her in that behalf, hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

1992 c. 4.

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Social Security (Contributions) Regulations 1979
  3. Signature
  4. Explanatory note

1Citation and commencement

These Regulations may be cited as the Social Security (Contributions) Amendment Regulations 1998 and shall come into force on 6th April 1998.

2Amendment of the Social Security (Contributions) Regulations 1979

In regulation 7 of the Social Security (Contributions) Regulations 1979 (lower and upper earnings limits for Class 1 contributions)f1—

(a)

for “6th April 1997”, substitute “6th April 1998”; and

(b)

for “£62” and “£465”, substitute “£64” and “£485” respectively.

Signature

Signed by authority of the Secretary of State for Social Security.

John Y. Denham

Parliamentary Under-Secretary of State,

Department of Social Security

3rd March 1998

Explanatory note

(This note is not part of the Regulations)

These Regulations further amend the Social Security (Contributions) Regulations 1979 (“the Contributions Regulations”).

Regulation 2 amends regulation 7 of the Contributions Regulations by increasing the weekly lower and upper earnings limits for Class 1 contributions for the tax year beginning on 6th April 1998. The lower earnings limit is increased from £62 to £64 and the upper earnings limit from £465 to £485.

Regulation 2 of these Regulations is made under section 5 of the Social Security Contributions and Benefits Act 1992 and the proposals for it are exempt from reference to the Social Security Advisory Committee by virtue of section 172(3) of, and paragraph 4 of Part I of Schedule 7 to, the Social Security Administration Act 1992 (c. 5).

This instrument does not impose any new costs on business. The lower and upper earnings limits increase broadly in line with the rise in price inflation.