Rate ceilings
1Main and additional primary percentages
1
In relation to primary Class 1 contributions payable in respect of any period in a tax year to which this section applies—
a
the main primary percentage shall not exceed 12%, and
b
the additional primary percentage shall not exceed 2%.
2
This section applies to a tax year which begins after the day on which this Act comes into force but before the date of the first parliamentary general election after that day.
3
In this section, “main primary percentage” and “additional primary percentage” are to be construed in accordance with section 8(2)(a) and (b) of SSCBA 1992 and SSCB(NI)A 1992.