Section 1 | Reduction 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.