National Insurance Contributions (Reduction in Rates) Act 2023
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1"><num>1</num><heading>Reduction of Class 1 main primary percentage</heading><subsection eId="section-1-1"><num>(1)</num><content><p><mod>In the Social Security Contributions and Benefits Act 1992, in section 8(2)(a) (ma
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-1"><num>(1)</num><content><p><mod>In the Social Security Contributions and Benefits Act 1992, in section 8(2)(a) (main primary percentage), for “12 per cent” substitute <quotedText>“10%”</quotedText>.</mod></p></cont
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-2"><num>(2)</num><content><p><mod>In the Social Security Contributions and Benefits (Northern Ireland) Act 1992, in section 8(2)(a) (main primary percentage), for “12 per cent” substitute <quotedText>“10%”</quotedTex
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-3"><num>(3)</num><intro><p>In regulation 131 of the Social Security (Contributions) Regulations 2001—</p></intro><level class="para1" eId="section-1-3-a"><num>(a)</num><content><p>omit “On and after 6th April 2011”,
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-1-3-a"><num>(a)</num><content><p>omit “On and after 6th April 2011”, 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><mod>for “5.85 per cent” substitute <quotedText>“3.85%”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-4"><num>(4)</num><content><p>The amendments made by <ref href="#section-1">this section</ref> come into force on 6 January 2024.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-2"><num><noteRef href="#M_F_a59975b8-3308-4f7e-8d88-8e58f362b982" uk:name="commentary" ukl:Name=
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-1"><num>(1)</num><content><p><mod>In the Social Security Contributions and Benefits Act 1992, in section 15(3ZA)(a), for “9 per cent” substitute <quotedText>“8%”</quotedText>.</mod></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 the Social Security Contributions and Benefits (Northern Ireland) Act 1992, in section 15(3ZA)(a) , for “9 per cent” substitute <quotedText>“8%”</quotedText>.</mod></p></content><
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-3"><num>(3)</num><content><p>The amendments made by <ref href="#section-2">this section</ref> come into force on 6 April 2024.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3"><num>3</num><heading>Removal of requirement to pay Class 2 contributions</heading><subsection eId="section-3-1"><num>(1)</num><intro><p>In section 11 of the Social Security Contributions and Benefits Act 1992 (Class 2
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3-1"><num>(1)</num><intro><p>In section 11 of the Social Security Contributions and Benefits Act 1992 (Class 2 contributions)—</p></intro><level class="para1" eId="section-3-1-a"><num>(a)</num><content><p>omit subsecti
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-a"><num>(a)</num><content><p>omit subsection (2),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-b"><num>(b)</num><content><p>in subsection (4), omit paragraph (a),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-c"><num>(c)</num><content><p>omit subsection (5),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-d"><num>(d)</num><content><p>in subsection (5A), omit the words from “but” to the end,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-e"><num>(e)</num><content><p>in subsection (5B), omit “under subsection (2)”, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-1-f"><num>(f)</num><content><p><mod>in subsection (8), for “subsections (2) and” substitute <quotedText>“subsection”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3-2"><num>(2)</num><intro><p>In section 11 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (Class 2 contributions)—</p></intro><level class="para1" eId="section-3-2-a"><num>(a)</num><conte
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-a"><num>(a)</num><content><p>omit subsection (2),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-b"><num>(b)</num><content><p>in subsection (4), omit paragraph (a),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-c"><num>(c)</num><content><p>omit subsection (5),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-d"><num>(d)</num><content><p>in subsection (5A), omit the words from “but” to the end,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-e"><num>(e)</num><content><p>in subsection (5B), omit “under subsection (2)”, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-3-2-f"><num>(f)</num><content><p><mod>in subsection (8), for “subsections (2) and” substitute <quotedText>“subsection”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3-3"><num>(3)</num><content><p>The amendments made by <ref href="#section-3">this section</ref> come into force on 6 April 2024.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-4"><num>4</num><heading>Transitional and consequential provision</heading><content><p><ref href="#schedule">The Schedule</ref> contains transitional and consequential provision.</p></content></section>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5"><num>5</num><heading>Short title</heading><content><p>This Act may be cited as the National Insurance Contributions (Reduction in Rates) Act 2023.</p></content></section>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedules" eId="schedules"><hcontainer name="schedule" eId="schedule"><num>Schedule<authorialNote cl
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="schedules"><hcontainer name="schedule" eId="schedule"><num>Schedule<authorialNote class="referenceNote"><p><ref href="#section-4">Section 4</ref></p></authorialNote></num><heading>Transitional and consequential provision</hea
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule"><num>Schedule<authorialNote class="referenceNote"><p><ref href="#section-4"
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Rates for directors in the tax year 2023-24</heading><paragraph eId="schedule-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-paragraph-1-1"><num>(1)</num><conten
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-paragraph-5-1"><num>(1)</num><intro><p>The Treasury may by regulations made by statutory instrument—</p></intro><level class="para1" eId="schedule-p
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-paragraph-1-1"><num>(1)</num><content><p><ref href="#schedule-paragraph-1">This paragraph</ref> applies to an assessment of the amount of earnings-r
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7" eId="d25e284"><heading>Rates for directors in the tax year 2023-24</heading><paragraph eId="schedule-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-paragraph-1-1"><num>(1
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Annual maximum contributions for the tax year 2023-24</heading><paragraph eId="schedule-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-paragraph-2-1"><num>(1)</n
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-paragraph-2-1"><num>(1)</num><content><p>The Social Security (Contributions) Regulations 2001 are amended as follows.</p></content></subparagraph><s
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7" eId="d25e345"><heading>Annual maximum contributions for the tax year 2023-24</heading><paragraph eId="schedule-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-paragraph-2-
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7" eId="d25e401"><heading>Annual maximum contributions for subsequent t
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Annual maximum contributions for subsequent tax years</heading><paragraph eId="schedule-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-paragraph-3-1"><num>(1)</n
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-paragraph-3" class="schProv1"><num><noteRef href="#M_F_b7ac42d5-dbeb-4bfa-e3aa-a88f532f17e6"
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Class 2 contributions</heading><paragraph eId="schedule-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-paragraph-4-1"><num>(1)</num><content><p>In the Social Sec
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-paragraph-4-1"><num>(1)</num><content><p>In the Social Security Contributions and Benefits Act 1992, omit section 11A (application of certain provis
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7" eId="d25e411"><heading>Class 2 contributions</heading><paragraph eId="schedule-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-paragraph-4-1"><num>(1)</num><content><p>In
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7" eId="d25e530"><heading>Power to make further consequential provision</heading><paragraph eId="schedule-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-paragraph-5-1"><num>