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Paragraph 5 F1

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The earnings-related amount for the year is calculated as follows—

(a)

take the part of the F2earnings factor for the year which exceeds the LET F3...;

(b)

multiply that amount in accordance with the last order under section 148 of the Administration Act to come into force before the end of the final relevant year;

(c)

multiply the amount found under paragraph (b) by 10%;

(d)

divide the amount found under paragraph (c) by 44.

Annotations

Textual amendments

F1

Sch. 4B inserted (26.9.2007) by Pensions Act 2007 (c. 22), s. 30(3), Sch. 2 para. 1

F2

Words in Sch. 4B para. 5(a) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(4); S.I. 2011/3033, art. 2(c)(xii)

F3

Words in Sch. 4B para. 5(a) repealed (21.9.2008) by National Insurance Contributions Act 2008 (c. 16), s. 6(1), Sch. 2