Social Welfare Act, 1995

Self-employment contributions (new rates of contributions and increase in earnings ceiling).

7.—(1) Section 18 (1) of the Principal Act is hereby amended by—

(a) the substitution in paragraph (a) of “of an amount equal to 5 per cent, of the reckonable income in excess of £520 or the amount of £230, whichever is the greater” for “of an amount equal to 5 per cent, of the reckonable income or the amount of £250, whichever is the greater”,

(b) the substitution in paragraph (c) of “of an amount equal to 5 per cent, of reckonable emoluments in excess of £520 or the amount of £230, whichever is the greater” for “of an amount equal to 5 per cent, of reckonable emoluments or the amount of £250, whichever is the greater”,

(c) the substitution in paragraph (d) of “£21,500” for “£20,900” (inserted by section 8 of the Act of 1994), and

(d) the substitution in paragraph (h) of “£230” for “£250” in both places where it occurs.

(2) This section shall come into operation on the 6th day of April, 1995.