uksi/2022/306 — The Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2022

2022 No. 306 Social Security The Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2022 Made 15th March 2022 Laid before Parliament 16th March 2022 Coming into force 6th April 2022 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 consequential on the making of an instrument 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 2022. 2 These Regulations come into force on 6th April 2022 immediately after the coming into force of the Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022 . Amendment to the Social Security (Contributions) Regulations 2001 2 In regulation 125(c) of the Social Security (Contributions) Regulations 2001 for the figure “£3.70” substitute “£3.80” . Michael Tomlinson Rebecca Harris Two of the Lords Commissioners of Her Majesty’s Treasury 15th March 2022 The Secretary of State concurs. Signed by authority of the Secretary of State for Work and Pensions Guy Opperman Parliamentary Under Secretary of State Department for Work and Pensions 14th March 2022 The Department for Communities concurs. Sealed with the Official Seal of the Department for Communities on 15th March 2022 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 2022. 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 £3.70 to £3.80. 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.