HM Treasury has made the Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2026 (S.I. 2026/283), adjusting the special Class 2 National Insurance rate for share fishermen. The instrument was made on 11 March 2026, laid before Parliament on 13 March 2026, and comes into force on 6 April 2026.
Regulation 2 amends regulation 125(c) of the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), raising the special rate of any Class 2 contribution payable by share fishermen from £4.15 to £4.30. The amendment applies UK‑wide, with parity for Northern Ireland provided through concurrent provision.
According to the Explanatory Note, the change is consequential on the annual regulations setting National Insurance contribution rates made under section 141 of the Social Security Administration Act 1992 and section 129 of the Social Security Administration (Northern Ireland) Act 1992. Commencement is sequenced to take effect immediately after the Social Security (Contributions) (Rates, Limits and Thresholds Amendments, National Insurance Funds Payments and Extension of Veteran’s Relief) Regulations 2026 (S.I. 2026/231) take effect.
Share fishermen are a distinct category within the 2001 Regulations. While this instrument does not alter eligibility or the structure of Class 2 liability, it changes the amount payable at the special rate. No other contributor classes are affected by this amendment.
For operators, co‑operatives and advisers in the fishing sector, the operational impact is straightforward. From 6 April 2026, accounting systems and any calculations for Class 2 liabilities of share fishermen must reflect the £4.30 rate for liabilities arising in the 2026/27 tax year. Legacy templates referencing £4.15 should be updated.
The Government records that the instrument contains only provisions consequential on re‑rating and therefore makes no substantive change to tax policy. Consistent with that position, a Tax Information and Impact Note has not been prepared.
The Regulations are made under section 117 of the Social Security Contributions and Benefits Act 1992 and the corresponding Northern Ireland provision, with concurrence from the Secretary of State for Work and Pensions and the Department for Communities. The instrument is signed by two of the Lords Commissioners of His Majesty’s Treasury, Stephen Morgan and Taiwo Owatemi, and by the Minister of State for Work and Pensions, Stephen Timms. The Department for Communities affixed its Official Seal on 10 March 2026.
Policy and compliance teams should treat this as part of the wider 2026 National Insurance re‑rating package. No action is required beyond updating the rate used for any Class 2 contributions payable by share fishermen from the 6 April commencement date and ensuring client communications are aligned.