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Do i need to submit P11D's

Do i need to submit P11D's

Hi

If the income is above £8500 but no expense or benfits taken from company during tax year. Do i still need to submit P11D

Thanks

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By BKD
06th Jul 2012 12:23

No

.

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06th Jul 2012 12:33

Do i need to inform HMRC

Thanks another simple question

 

Do i need to inform HMRC because last year i have submitted P11D to HMRC

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By BKD
johngroganjga
06th Jul 2012 13:34

No

Unless you indicated on the P35 that P11Ds were due, in which case you may be chased for them, with unnecessary penalties being raised.

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14th Jul 2012 16:48

P11D Submission

On your P35, if you have not declared that P11D submission will follow then you don't need to submit nor inform HMRC, if you have declared that you would submit a P11D but later have no P11D benefits then a Nil P11D has to be submitted, other wise just ignore it.

 

DanielWebb

GTax Employee Management.

 

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By JAADAMS
14th Jul 2012 17:30

See current article on this subject - about a month ago

This question comes up time after time...so the editor asked me to write an article -

its here...http://www.accountingweb.co.uk/article/p11d-season-get-details-right/528807 

To quote:

Submission is required where benefits and/or expenses (including those reimbursed) are provided by the company to:

All directors and employees earning in excess of £8,500 (in cash payments and /or benefit cash equivalent)full-time working directors earning less than the limit but owning more than 5% of the share capital

>> so no expenses/benefits = no P11D but read further on in the article ... best to obtain a Dispensation

 

 

 

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