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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Social Security (Contributions) Amendment Regulations 1994 No. 563 URL: http://www.bailii.org/uk/legis/num_reg/1994/uksi_1994563_en.html |
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Statutory Instruments
SOCIAL SECURITY
Made
7th March 1994
Laid before Parliament
14th March 1994
Coming into force
6th April 1994
The Secretary of State for Social Security, in exercise of powers conferred by sections 5, 119 and 175(1) to (3) of the Social Security Contributions and Benefits Act 1992(1) and of all other powers enabling him in that behalf, and after agreement by the Social Security Advisory Committee that the proposals to make regulation 2(3) of these Regulations shall not be referred to it(2), hereby makes the following Regulations:
1.-(1) These Regulations may be cited as the Social Security (Contributions) Amendment Regulations 1994 and shall come into force on 6th April 1994.
(2) In these Regulations, "the principal Regulations" means the Social Security (Contributions) Regulations 1979(3).
2.-(1) The principal Regulations shall be further amended in accordance with the following provisions of this regulation.
(2) In regulation 7 (lower and upper earnings limits for Class 1 contributions)(4)-
(a)for the date "6th April 1993" there shall be substituted the date "6th April 1994"; and
(b)for the sums "£56" and "£420" there shall be substituted respectively the sums "£57" and "£430".
(3) In regulation 123D(1)(b) (special provisions as to volunteer development workers)(5) for "6.6 per cent." there shall be substituted "5.6 per cent.".
Signed by authority of the Secretary of State for Social Security.
William Hague
Parliamentary Under-Secretary of State,
Department of Social Security
7th March 1994
(This note is not part of the Regulations)
These Regulations further amend the Social Security (Contributions) Regulations 1979 in the following manner.
They amend regulation 7 by increasing the weekly lower and upper earnings limits for Class 1 contributions for the tax year beginning on 6th April 1994. The lower earnings limit is increased from £56 to £57 and the upper earnings limit from £420 to £430.
They also amend regulation 123D by decreasing the weekly rate of Class 2 contributions payable by volunteer development workers from 6.6% to 5.6% of the lower earnings limit. For the tax year beginning on 6th April 1994, the weekly contributions for those workers will decrease from £3.70 to £3.19.
Regulation 2(2) is made under section 5 of the Social Security Contributions and Benefits Act 1992 and the proposals for it are exempt from reference to the Social Security Advisory Committee by virtue of section 172(3) of, and paragraph 4 of Part I of Schedule 7 to the Social Security Administration Act 1992.
Regulations 1 and 2(1) and (3) do not impose any additional costs on business. The effect of regulation 2(2) will be to increase the administrative costs to business. These costs will be contained in the overall costs for business of implementing the National Insurance contributions re-rating package and will not represent any additional expense.
An assessment of the cost to business of applying regulation 2(2) has been placed in the libraries of both Houses of Parliament. Copies can be obtained by post from the Department of Social Security, Room 09/03, Adelphi, 1-11 John Adam Street, London WC2N 6HT.
