Section 2 | Increase in lower limit of profits for Class 4 contributions

(1)In sections 15(3)(a) and 18(1)(c) and (1A)(a) of—

(a)the Social Security Contributions and Benefits Act 1992, and

(b)the Social Security Contributions and Benefits (Northern Ireland) Act 1992,

for “£9,880” (the lower limit of profits) substitute “£11,908”.

(2)The amendments made by subsection (1) are treated as having come into force on 6 April 2022.

(3)In those sections, for “£11,908” (as substituted by subsection (1)) substitute “£12,570”.

(4)The amendments made by subsection (3) come into force on 6 April 2023.