uksi/2018/363 — The Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2018

2018 No. 363 Social Security The Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2018 Made 12th March 2018 Laid before Parliament 14th March 2018 Coming into force 6th April 2018 These Regulations are made by the Treasury in exercise of the powers conferred by sections 117(1) and 175(3) of the Social Security Contributions and Benefits Act 1992 and by sections 117(1) and 171(3) and (10) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 . The Secretary of State and the Department for Communities concur in the making of these Regulations. These Regulations contain only provisions in consequence of an instrument made under section 141 of the Social Security Administration Act 1992 and section 129 of the Social Security Administration (Northern Ireland) Act 1992 . Citation and commencement 1 1 These Regulations may be cited as the Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2018. 2 These Regulations come into force on 6th April 2018 immediately after the coming into force of the Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2018 . Amendment to the Social Security (Contributions) Regulations 2001 2 In regulation 125(c) of the Social Security (Contributions) Regulations 2001 (modification of provisions of the Social Security Contributions and Benefits Act 1992 in relation to share fishermen), for “£3.50” substitute “£3.60”. Paul Maynard David Rutley Two of the Lords Commissioners of Her Majesty’s Treasury 12th March 2018 The Secretary of State concurs. Signed by authority of the Secretary of State for Work and Pensions Guy Opperman Minister of State Department for Work and Pensions 12th March 2018 The Department for Communities concurs. Sealed with the Official Seal of the Department for Communities on 9th March 2018 Anne McCleary A senior officer of the Department for Communities EXPLANATORY NOTE (This note is not part of the Regulations) These Regulations amend the Social Security (Contributions) Regulations 2001 ( S.I. 2001/1004 ) (“the Contributions Regulations”) with effect from 6th April 2018. They are made in consequence of annual regulations setting the rate at which Class 2 National Insurance contributions are payable and which are made under section 141 of the Social Security Administration Act 1992 (c. 5) and section 129 of the Social Security Administration (Northern Ireland) Act 1992 (c. 8) . Regulation 2 amends regulation 125(c) of the Contributions Regulations, by increasing the special rate of any Class 2 National Insurance contribution payable by share fishermen from £3.50 to £3.60. A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and it relates to routine changes to rates, limits and thresholds.