 This form also enables registry as a sole-trader or a partnership; also you are able to inform them of your intentions of gaining employees ensuring that you pay their contributions.If this is not registered within three month then he is at risk of occurring a fine.National Insurance Contributions are paid at fixed rate of £2.10pw- Class 2 NIC; in the 2006/2007 period however if you earn less than £5,035 you are able to get small earnings exemption.