Part I New Primary Threshold
Welfare Reform and Pensions Act 1999 (1999 c 30) | Legislation

SCHEDULE 10 New Threshold for Primary Class 1 Contributions: Northern Ireland

Section 74

Part I New Primary Threshold

Earnings limits and thresholds for Class 1 contributions

1

For section 5 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 substitute—

“5 Earnings limits and thresholds for Class 1 contributions

(1)     For the purposes of this Act there shall for every tax year be—

(a)     the following for primary Class 1 contributions—

(i)     a lower earnings limit,

(ii)     a primary threshold, and

(iii)     an upper earnings limit; and

(b)     a secondary threshold for secondary Class 1 contributions.

Those limits and thresholds shall be the amounts specified for that year by regulations which, in the case of those limits, shall be made in accordance with subsections (2) and (3) below.

(2)     The amount specified as the lower earnings limit for any tax year shall be an amount equal to or not more than 99p less than—

(a)     the sum which at the beginning of that year is specified in section 44(4) below as the weekly rate of the basic pension in a Category A retirement pension; or

(b)     that sum as increased by any Act,

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?

How is the National Employment Savings Trust (NEST) different from a typical occupational pension scheme?In this Practice Note, references to the National Employment Savings Trust (NEST) Order are to the National Employment Savings Trust Order 2010, SI 2010/917 (NEST Order) applicable from 25 May

LEXISNEXIS

Traditional procurement of construction contracts

Traditional procurement of construction contractsThis Practice Note provides a basic explanation of traditional procurement in construction. It looks at why this type of procurement is used and also considers particular issues to take into account when choosing to follow this procurement route.When

LEXISNEXIS

Possession of a bladed article

Possession of a bladed articleThe offence of possession of a bladed articleThe offence of having a bladed article in a public place can be tried in either the magistrates' court or the Crown Court. The magistrates' court will decline jurisdiction in those cases where it appears that its powers of

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a