Section 15, SSCBA 1992

NIM24032 explains the background to the Class 4 NICs changes introduced from 6 April 2003.

Section 15 of SSCBA 92, which provides for the payment of Class 4 NICs, was amended by section 3 of the National Insurance Contributions Act 2002. The amendment provided for a new Class 4 NICs liability on all profits or gains which:

are derived from self-employment

are profits or gains chargeable to income tax under Chapter 2 of Part 2 of the Income Tax (Trading and Other Income) Act 2005, (formerly Case I and II of Schedule D of the Income and Corporation Taxes Act 1988)

exceed the Upper Profits Limit (UPL).

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