Do you complete a P11D forms for you or your employees? Be aware the deadline to submit P11D forms declaring benefits provided to employees for the year ended 5 April 2018 is 6 July and is now less than 3 weeks away.
This is also the date by which employers must provide details of Class 1A National Insurance contributions due for the year. These must be paid by 22 July if paid electronically or 19 July if paying by cheque.
HMRC has released some common mistakes employers make when completing P11D forms:
- Do not put ‘6 April 2017’ in the start date and/or ‘5 April 2018’ in the end date for company cars, unless they are the dates the employee received or returned a company car. If the employee had the car before the start of the tax year, the ‘from’ box must be blank; if they kept the car into the new tax year, the ‘to’ box should be blank.
- Remember to sign the form P11D(b) if submitting on paper.
- Send only one P11D(b) for each scheme, showing the total due; do not send a separate one for employees and directors. HMRC treats each separate P11D(b) as an amendment to any received previously.
- Check the P11D(b) to see whether the ‘adjustments’ at part 4 should be used before completing part 1 box C. If an adjustment is necessary, part 1 box C must be left blank.
- If an employee has been given a beneficial loan, check that all parts of section H are complete.
All benefits (except employer provided accommodation and interest free or low interest loans) can now be payrolled, employers that have not already registered online to payroll their company benefits, may wish to do so now ahead of 2019/20.
Help with P11D Submissions
If you need help with completing your P11D forms or information on payrolling your company then please give Haines Watts a call. We can offer advice and help you submit your forms correctly to avoid any penalities or issues with incorrect submissions.
Give us a call now on 01603 700885 or email email@example.com
To find out more about Haines Watts visit our webpage here.
Want to know more? Call us on 01379 640555 or email firstname.lastname@example.org