Related Commentary  Related HMRC Manuals

5(1)  For the purposes of this Act there shall for every tax year be–

(a)the following for primary Class 1 contributions–

(i)a lower earnings limit,

(ii)a primary threshold, and

(iii)an upper earnings limit; and

(b)a secondary threshold for secondary Class 1 contributions.

Those limits and thresholds shall be the amounts specified for that year by regulations.

5(2)  The amount specified as the lower earnings limit for any tax year shall be an amount equal to or not more than 99p less than–

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