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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Social Security (Contributions) Amendment Regulations 1998 No. 523 URL: http://www.bailii.org/uk/legis/num_reg/1998/uksi_1998523_en.html |
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Statutory Instruments
SOCIAL SECURITY
Made
3rd March 1998
Laid before Parliament
10th March 1998
Coming into force
6th April 1998
The Secretary of State for Social Security, in exercise of powers conferred by sections 5 and 175(1) to (3) of the Social Security Contributions and Benefits Act 1992(1) and of all other powers enabling her in that behalf, hereby makes the following Regulations:
1. These Regulations may be cited as the Social Security (Contributions) Amendment Regulations 1998 and shall come into force on 6th April 1998.
2. In regulation 7 of the Social Security (Contributions) Regulations 1979 (lower and upper earnings limits for Class 1 contributions)(2)-
(a)for "6th April 1997", substitute "6th April 1998"; and
(b)for "£62" and "£465", substitute "£64" and "£485" respectively.
Signed by authority of the Secretary of State for Social Security.
John Y. Denham
Parliamentary Under-Secretary of State,
Department of Social Security
3rd March 1998
(This note is not part of the Regulations)
These Regulations further amend the Social Security (Contributions) Regulations 1979 ("the Contributions Regulations").
Regulation 2 amends regulation 7 of the Contributions Regulations by increasing the weekly lower and upper earnings limits for Class 1 contributions for the tax year beginning on 6th April 1998. The lower earnings limit is increased from £62 to £64 and the upper earnings limit from £465 to £485.
Regulation 2 of these Regulations is made under section 5 of the Social Security Contributions and Benefits Act 1992 and the proposals for it are exempt from reference to the Social Security Advisory Committee by virtue of section 172(3) of, and paragraph 4 of Part I of Schedule 7 to, the Social Security Administration Act 1992 (c. 5).
This instrument does not impose any new costs on business. The lower and upper earnings limits increase broadly in line with the rise in price inflation.
