Class-2 NIC as an investor

[PhaseThree]

I notice from the Government National Insurance website that it is possible to pay class-2 contributions if you are :-

"a person who makes investments - but not as a business and without getting a fee or commission"

Since I have taken early retirement and am currently living off my investments this pretty much describes me and my financial activity. I need to pay another 8 years NI to get a full pension and this looks like a possible route to acheive this. Unfortunately there seems to be close to zero information as to how this rule is applied, how you are supposed to register or how you get to pay contributions.

Has anyone else tried this route ?

[DrBunsenHoneydew]

I notice from the Government National Insurance website that it is possible to pay class-2 contributions if you are :-

"a person who makes investments - but not as a business and without getting a fee or commission"

Since I have taken early retirement and am currently living off my investments this pretty much describes me and my financial activity. I need to pay another 8 years NI to get a full pension and this looks like a possible route to acheive this. Unfortunately there seems to be close to zero information as to how this rule is applied, how you are supposed to register or how you get to pay contributions.

Has anyone else tried this route ?

Anyone who registers with HMRC as a self-employed Sole Trader will get the chance to fill in a Self-Employment Tax Return on which there is a box to tick:

Box 36:
If your total profits for 2018–19 are less than £6,205
and you choose to pay Class 2 NICs voluntarily,
put ‘X’ in the box

The fact that you had zero turnover or profits seems not to matter a jot.

As an aside, the on-line version of the paper return does not allow you to tick this box if you have low profits, but this is an acknowledged fault - it is a legitimate option.