June 13th, 2019

P11D forms – what are they and do they affect me?

It’s that time of year again when employers need to consider whether forms P11D and P11D(b) are required for their directors and employees.

These forms are required for directors and employees in receipt of benefits in kind. Benefits in kind are benefits received from employment but which do not form part of salary or wages.

The deadline for filing the P11D forms is 6 July 2019, and any Class 1A National Insurance due in relation to benefits provided is payable to HMRC by 19 July 2019.

P11D forms submitted late will be subject to late filing penalties, and any Class 1A NI paid late will be subject to penalties and interest charges.

P11D forms need to be provided to employees by 6 July 2019.

It is the responsibility of the employer to determine whether P11D forms need to be prepared and filed with HMRC.

The main sources of benefits in kind are as follows:

• Provision of company cars and vans
• Private fuel being paid for by the company
• Business mileage reimbursed at rates higher those listed here
• Private medical/ dental insurance
• The provision of low or interest free loans in excess of £10,000 (including director’s loan accounts)
• The provision of most vouchers
• The company paying private bills
• Personal expenditure incurred on a company credit card
• Company assets transferred to directors or employees for less than market value

Please note this list is not exhaustive – more information on expenses and benefits for employers can be found here.

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HMRC Limited Companies Payroll Penalties Tax Info

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Client Manager

Sarah manages a variety of clients, including wedding photographers and writers, and specialises in personal tax. After studying History & Politics at the University of Warwick, Sarah trained as a chartered accountant at an independent firm in St Helens before becoming Tax Manager. Sarah is responsible for training and mentoring junior staff.

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