
PART 1
1 
These Regulations may be cited as the Social Security (Contributions) (Limits and Thresholds, National Insurance Funds Payments and Extension of Veterans Relief) Regulations 2024 and come into force on 6th April 2024.
PART 2
2 
In regulation 10 of the Social Security (Contributions) Regulations 2001 (earnings limits and thresholds) for “2023” substitute “2024”.
3 
In section 8 of the National Insurance Contributions Act 2022 (upper secondary threshold for earnings: special tax site employees and armed forces veterans) in subsection (1) and subsection (2) for “and 6 April 2023” substitute “, 6 April 2023 and 6 April 2024”.
PART 3
4 
Section 2(2) of the Social Security Act 1993 (payments into National Insurance Fund out of money provided by Parliament) has effect with respect to the tax year 2024-25 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that year shall be 5 per cent.
5 
Article 4(3) of the Social Security (Northern Ireland) Order 1993 (payments into Northern Ireland National Insurance Fund out of appropriated money) has effect with respect to the tax year 2024-25 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that year shall be 5 per cent.
PART 4
6 
In section 6(4) of the National Insurance Contributions Act 2022 (zero-rate contributions for armed forces veterans) after paragraph (b) insert—“
(c) 2024-25.”.
Amanda Milling
Scott Mann
Two of the Lords Commissioners of His Majesty’s Treasury
29th February 2024