1Reduction of Class 1 main primary percentage
(1)
In the Social Security Contributions and Benefits Act 1992, in section 8(2)(a) (main primary percentage), for “12 per cent” substitute “10%”
.
(2)
In the Social Security Contributions and Benefits (Northern Ireland) Act 1992, in section 8(2)(a) (main primary percentage), for “12 per cent” substitute “10%”
.
(3)
In regulation 131 of the Social Security (Contributions) Regulations 2001—
(a)
omit “On and after 6th April 2011”, and
(b)
for “5.85 per cent” substitute “3.85%”
.
(4)
The amendments made by this section come into force on 6 January 2024.