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UK Intoduces new process to collect unpaid class 2 national insurance
effective starting April 2014, new rules will be introduced permitting HM Revenue and Customs (HMRC) to collect unpaid Class 2 National Insurance Contributions (NICs) by way of an individual’s Pay As You Earn (PAYE) tax code.
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If taxpayers fail to comply with HMRC’s payment requests, it will signify that the taxpayer has agreed to use the PAYE tax code wpxwm for collection of the class 2 NICs debt from April 2014.
Further, taxpayers are now receiving an Annual Coding Notice (P2) between January and March 2014. An Annual Coding Notice usually notifies the taxpayers about their tax code and ensures correct amount of tax and NIC deducted by employers.
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