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Self-employment contributions (new rates of contributions and abolition of income ceiling).
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9.—(1) Section 18(1) of the Principal Act is amended by—
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(a) the substitution for paragraph (a) (as amended by section 9 of the Act of 1996) of the following paragraph:
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“(a) Subject to paragraph (b) and (h), where in any contribution year a self-employed contributor has reckonable income there shall be payable by him or her a self-employment contribution which shall be of an amount equal to 3 per cent. of the reckonable income or the amount of £200 whichever is the greater.”,
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(b) the substitution for paragraph (c) (as amended by section 9 of the Act of 1996) of the following paragraph:
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“(c) Subject to paragraph (h), where in any contribution year a payment is made to a self-employed contributor in respect of reckonable emoluments of that self-employed contributor, there shall be payable by him or her a self-employment contribution which shall be of an amount equal to 3 per cent. of the reckonable emoluments or the amount of £200, whichever is the greater.”,
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(c) the deletion of paragraph (d),
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(d) the deletion of paragraph (f), and
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(e) the substitution in paragraph (h) (as amended by section 9 of the Act of 1996) of “£200” for “£215”.
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(2) Section 19 of the Principal Act is amended by—
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(a) the substitution in subsection (1) for “Subject to subsection (2), regulations” of “Regulations”, and
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(b) the substitution for subsections (2), (3) and (4) of the following subsections:
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“(2) The Minister may by regulations specify circumstances in which contributions payable by a self-employed contributor may be treated as paid.
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(3) For the purposes of this section ‘contributions’ means employment contributions payable under section 10 and self-employment contributions payable under section 18.”.
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(3) Section 4 of the Principal Act is amended by the deletion in subsection (5) (as amended by section 17 of the Act of 2000) of “18(1)(f),”.
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(4) This section comes into operation on 6 April 2001.
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