[148C.—(1) This regulation applies in relation to a person (P)—
(a)who is ... entitled under section 11(6) of the Act, to pay one or more Class 2 contributions [or is treated, as a result of section 11(5B) of the Act, as having actually paid one or more Class 2 contributions,] in respect of a contribution week in a relevant tax year;
(b)who does not carry on a trade, profession or vocation the profits of which (if any) would be chargeable to income tax under Chapter 2 of Part 2 of the Income Tax (Trading and Other Income) Act 2005 for the relevant tax year; and
(c)in respect of whom regulation 148B applies in relation to the relevant tax year.
(2) Section 11(5) of the Act (Class 2 contributions payable in the same manner as Class 4 contributions) does not apply in relation to the Class 2 contributions (if it would otherwise do so).
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) If P is entitled to pay a Class 2 contribution under section 11(6) of the Act, P may—
(a)make a return in such form as may be approved by HMRC; and
(b)pay the contribution.
[(5A) If P is treated (as a result of section 11(5B) of the Act) as having actually paid a Class 2 contribution, P must, no later than 31st January next following the end of the relevant tax year, make a return in such form as may be approved by HMRC.]
(6) P must keep such records as may be necessary for the purposes of calculating P’s—
(a)relevant profits from the employment for the purposes of [section 11(5B)] of the Act; and
(b)... entitlement to pay a Class 2 contribution, [or entitlement to be treated as having actually paid such a contribution,]
for the relevant tax year and preserve such records until the sixth anniversary of the 31st January next following the end of the relevant tax year.]