Increases in contributions

Class 4 contributions
3
1
In section 15 of the Social Security Contributions and Benefits Act 1992 (Class 4 contributions recoverable under Income Tax Acts: Great Britain), for subsection (3) substitute—
3
The amount of a Class 4 contribution under this section for any tax year is equal to the aggregate of—
a
the main Class 4 percentage of so much of the profits or gains referred to in subsection (1) above (computed in accordance with Schedule 2 to this Act) as exceeds £4,615 but does not exceed £30,940; and
b
the additional Class 4 percentage of so much of those profits or gains as exceeds £30,940;
but the figures specified in this subsection are subject to alteration under section 141 of the Administration Act.
3ZA
For the purposes of this Act—
a
the main Class 4 percentage is 8 per cent; and
b
the additional Class 4 percentage is 1 per cent;
but the main Class 4 percentage is subject to alteration under section 143 of the Administration Act.
2
In section 15 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (Class 4 contributions recoverable under Income Tax Acts: Northern Ireland), for subsection (3) substitute—
3
The amount of a Class 4 contribution under this section for any tax year is equal to the aggregate of—
a
the main Class 4 percentage of so much of the profits or gains referred to in subsection (1) above (computed in accordance with Schedule 2 to the Great Britain Contributions and Benefits Act, the text of which is set out as Schedule 2 to this Act) as exceeds £4,615 but does not exceed £30,940; and
b
the additional Class 4 percentage of so much of those profits or gains as exceeds £30,940;
but the figures specified in this subsection are subject to alteration under section 129 of the Administration Act.
3ZA
For the purposes of this Act—
a
the main Class 4 percentage is 8 per cent; and
b
the additional Class 4 percentage is 1 per cent;
but the main Class 4 percentage is subject to alteration under section 129 of the Administration Act.
3
In section 18 of the Social Security Contributions and Benefits Act 1992 (c. 4) (Class 4 contributions recoverable under regulations: Great Britain), after subsection (1) insert—
1A
The amount of a Class 4 contribution payable by virtue of regulations under this section is equal to the aggregate of—
a
the main Class 4 percentage of so much of the total of the earnings referred to in subsection (1)(b) above as exceeds £4,615 but does not exceed £30,940; and
b
the additional Class 4 percentage of so much of that total as exceeds £30,940;
but the figures specified in this subsection are subject to alteration under section 141 of the Administration Act.
4
In section 18 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7) (Class 4 contributions recoverable under regulations: Northern Ireland), after subsection (1) insert—
1A
The amount of a Class 4 contribution payable by virtue of regulations under this section is equal to the aggregate of—
a
the main Class 4 percentage of so much of the total of the earnings referred to in subsection (1)(b) above as exceeds £4,615 but does not exceed £30,940; and
b
the additional Class 4 percentage of so much of that total as exceeds £30,940;
but the figures specified in this subsection are subject to alteration under section 129 of the Administration Act.