Introduction Structure of these notes
3.These notes begin with a brief overview of National Insurance contributions (NICs) and the measures contained in the Act. Part 1 covers the increase in rates of Class 1 and Class 4 NICs and the destination of the increased product of the additional rates. Part 2 covers the Regional Secondary Contributions Holiday for New Businesses (the Holiday). Part 3 contains general provision concerning abbreviations, commencement, extent and short title. Annex A is a glossary of terms used in these notes.