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Regulation 21 of the Social Security (Contributions) Regulations 2001 (SSCR 2001) (SI 2001 No 1004)

»Ê¹ÚÌåÓýappre is no annual limit for NICs paid by employers but there is an annual maximum amount of Class 1 and Class 2 contributions payable by contributors. For tax years:

• up to 2002/2003, the limit was the value of 53 primary Class 1 contributions at the maximum standard weekly rate. See NIM37012 for guidance about when NICs may be correctly paid above the annual maximum and NIM38505 for guidance about the Class 1 & 2 and the Class 1, 2 & 4 maxima.
• from 2003/2004 onwards, the limit is calculated by reference to a mathematical formula which is provided in regulation 21 of the regulations.