Social Security Administration Act 1992

143 Power to alter contributions with a view to adjusting level of National Insurance Fund U.K.

(1) Without prejudice to section 141 above, the [F1 Treasury] may at any time, if [F2 they think] it expedient to do so with a view to adjusting the level at which the National Insurance Fund stands for the time being and having regard to the sums which may be expected to be paid from the Fund in any future period, make an order amending Part I of the Contributions and Benefits Act by altering any one or more of the following figures—

[F3 (a) the percentage rate specified as the [F4 main primary percentage in section 8(2)(a)];

(b) the percentage rate specified as the secondary percentage in section 9(2),]

(c) the figure specified in [F5 section [F6 11(6)]] as the weekly rate of Class 2 contributions;

(d) the figure specified in section 13(1) as the amount of a Class 3 contribution;

(e) the percentage rate [F7 specified as the main Class 4 percentage in section 15(3ZA)(a)].

F8 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) An order under subsection (1) above may if it contains an amendment altering the figure specified in [F9 section [F10 11(6)]] of the Contributions and Benefits Act as the weekly rate of Class 2 contributions and the [F11 Treasury think] it expedient in consequence of that amendment, amend section 11(4) of that Act by altering the figure there specified as the [F12 [F13 small profits threshold] for the purposes of Class 2 contributions].

(4) No order shall be made under this section so as—

[F14 (a) to increase for any tax year the [F15 main] primary percentage, or the secondary percentage, to a percentage rate more than 0.25 per cent higher than that applicable at the end of the preceding tax year,] or

(b) to increase the [F16 main Class 4 percentage] to more than [F17 9.25] percent.

Textual Amendments

F1 Words in s. 143(1) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(2)(a); S.I. 1999/527, art. 2(b), Sch. 2

F2 Words in s. 143(1) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(2)(b); S.I. 1999/527, art. 2(b), Sch. 2

F3 S.143(1)(a)(b) substituted (6.4.1999) by Social Security Act 1998 (c. 14), s. 87(2), Sch. 7 para. 90(1); S.I. 1999/418, art. 2

F4 Words in s. 143(1)(a) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(a)

F5 Words in s. 143(1)(c) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(2) (with Sch. 1 para. 35)

F6 Word in s. 143(1)(c) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(a)(7)

F7 Words in s. 143(1)(e) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(2)(b)

F8 S. 143(2) repealed (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 2

F9 Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(a) (with Sch. 1 para. 35)

F10 Word in s. 143(3) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(b)(i)(7)

F11 Words in s. 143(3) substituted (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(3), Sch. 3 para. 46(3); S.I. 1999/527, art. 2(b), Sch. 2

F12 Words in s. 143(3) substituted (with effect for the tax year 2015-16 and subsequent tax years) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 21(3)(b) (with Sch. 1 para. 35)

F13 Words in s. 143(3) substituted (6.4.2024) by National Insurance Contributions (Reduction in Rates) Act 2023 (c. 57), Sch. paras. 4(3)(5)(b)(ii)(7)

F14 S.143(4)(a) substituted (6.4.1999) by Social Security Act 1998 (c. 14), s. 87(2), Sch. 7 para. 90(2); S.I. 1999/418, art. 2

F15 Word in s. 143(4)(a) inserted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(a)

F16 Words in s. 143(4)(b) substituted (with effect in relation to the tax year 2003-04 and subsequent tax years) by National Insurance Contributions Act 2002 (c. 19), s. 8(2), Sch. 1 para. 17(3)(b)

F17 Figure in s. 143(4)(b) substituted (6.4.2011) by National Insurance Contributions Act 2011 (c. 3), ss. 2(2), 13(1)

Modifications etc. (not altering text)

C1 S. 143(1) modified (25.3.2020) by Coronavirus Act 2020 (c. 7), ss. 72(1)(2), 87(1)

C2 S. 143(4)(a) excluded (25.3.2020) by Coronavirus Act 2020 (c. 7), ss. 72(1)(3), 87(1)