Section 1 | Increase of primary threshold for primary Class 1 contributions

(1)The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) are amended as follows.

(2)In regulation 10(c) (primary threshold) for “£190” substitute “£242”.

(3)In regulation 11(3) (prescribed equivalents)—

(a)in sub-paragraph (a), for “£823” substitute “£1,048”;

(b)in sub-paragraph (b), for “£9,880” substitute “£12,570”.

(4)The amendments made by subsections (2) and (3) come into force on 6 July 2022 (and accordingly do not affect any liability to primary Class 1 contributions for any tax week commencing before that date).