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It’s Time To Complete Forms P11D

The deadline for employers to complete forms P11D to report benefits or expenses provided to employees and directors is fast approaching – forms for the year ended 5 April 2022 are due for submission to HMRC, with a copy given to employees, by 6 July 2022. The process to gather information for returns can take some time so it is essential this is not left until the last minute.

Employers are required to pay Class 1A National Insurance Contributions (NIC) through form P11D(b) on taxable benefits and expenses provided, with payment due by 19 July (or 22 July for electronic payments), whilst Income Tax is payable by the employee.

Typical employee benefits and expenses which should be reported on a P11D include:

  • Private medical insurance
  • Company cars, vans, and fuel
  • Interest free or low interest loans
  • Staff entertaining if above £150 per employee
  • Assets provided to the employee for personal use

You do not need to report or pay tax on ‘trivial’ benefits. In order for a benefit to be considered ‘trivial’, all of the following must apply:

  • It cost £50 or less to provide
  • It is not cash or a cash voucher
  • It is not a performance reward
  • It is not given under the terms of the employee’s contract

Failure to submit your P11D(b) forms will result in a penalty of £100 per 50 employees for each month or part month that the forms are late. Penalties and interest will also be charged for late payment.

If you would like any support or advice with the completion of the forms, or the calculation associated with Class 1A NIC, please get in touch with your local office contact, email [email protected] or call one of our offices.

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