Katie Blades

Readers may be interested to learn that the Inland Revenue Tax Bulletin (issue 53), which was published in June 2001, contained incorrect information concerning the late notification penalty for Class 2 National Insurance contributions.

In that article, the Inland Revenue stated that 'employees who already pay the maximum amount of National Insurance contributions through Class 1 will not need to register for Class 2 National Insurance contributions when commencing self employment'.