National Insurance Contributions (Reduction in Rates) Act 2024
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1"><num>1</num><heading>Reduction in rates</heading><subsection eId="section-1-1"><num>(1)</num><intro><p>In the following provisions—</p></intro><level class="para1" eId="section-1-1-a"><num>(a)</num><content><p>section
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-1"><num>(1)</num><intro><p>In the following provisions—</p></intro><level class="para1" eId="section-1-1-a"><num>(a)</num><content><p>section 8(2)(a) of the Social Security Contributions and Benefits Act 1992 (main p
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-1-1-a"><num>(a)</num><content><p>section 8(2)(a) of the Social Security Contributions and Benefits Act 1992 (main primary percentage for Great Britain), and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-1-1-b"><num>(b)</num><content><p>section 8(2)(a) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (main primary percentage for Northern Ireland),</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-2"><num>(2)</num><content><p><mod>In regulation 131 of the Social Security (Contributions) Regulations 2001 (reduced rate of primary Class 1 contributions otherwise payable at the main primary percentage), for “3.85%
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-3"><num>(3)</num><intro><p>In the following provisions (as they had effect immediately before the day on which this Act comes into force)—</p></intro><level class="para1" eId="section-1-3-a"><num>(a)</num><content><p
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-1-3-a"><num>(a)</num><content><p>section 15(3ZA)(a) of the Social Security Contributions and Benefits Act 1992 (main Class 4 percentage for Great Britain), and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-1-3-b"><num>(b)</num><content><p>section 15(3ZA)(a) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (main Class 4 percentage for Northern Ireland),</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-4"><num>(4)</num><content><p>Section 2 of the National Insurance Contributions (Reduction in Rates) Act 2023 is superseded by subsection <ref href="#section-1-3">(3)</ref> and accordingly is to be treated as never ha
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2"><num>2</num><heading>Annual maximum contributions</heading><subsection eId="section-2-1"><num>(1)</num><content><p>The Social Security (Contributions) Regulations 2001 (as they had effect immediately before the day on
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-1"><num>(1)</num><content><p>The Social Security (Contributions) Regulations 2001 (as they had effect immediately before the day on which this Act comes into force) are amended as follows.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-2"><num>(2)</num><content><p><mod>In regulation 21 (annual maxima for those with more than one employment), in paragraph (2), in Step Two, for “11.5%” substitute <quotedText>“8%”</quotedText>.</mod></p></content></su
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-3"><num>(3)</num><intro><p>In regulation 100 (annual maximum of Class 4 contributions), in paragraph (3)—</p></intro><level class="para1" eId="section-2-3-a"><num>(a)</num><content><p><mod>in Step Two, for “9 per cen
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-2-3-a"><num>(a)</num><content><p><mod>in Step Two, for “9 per cent” substitute <quotedText>“6%”</quotedText>, and</mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-2-3-b"><num>(b)</num><content><p><mod>in Step Five, for “100/9” substitute <quotedText>“100/6”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-4"><num>(4)</num><content><p>Paragraph 3 of the Schedule to the National Insurance Contributions (Reduction in Rates) Act 2023 is superseded by this section and accordingly is to be treated as never having had effect
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3"><num>3</num><heading>Commencement and short title</heading><subsection eId="section-3-1"><num>(1)</num><content><p>This Act comes into force on 6 April 2024.</p></content></subsection><subsection eId="section-3-2"><num
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3-1"><num>(1)</num><content><p>This Act comes into force on 6 April 2024.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3-2"><num>(2)</num><content><p>This Act may be cited as the National Insurance Contributions (Reduction in Rates) Act 2024.</p></content></subsection>