P11D not completed for year to March 2011

Posted by Settingupalone PM | on Mon, 19/12/2011 - 14:36 1462 11 comments | report

I have a client with a March 2011 year end and overdrawn directors loan account and no P11D submitted as no interest was paid on this overdrawn account. How do I correct this? Complete a P11D and P11D(b) and submit it. What are the consequences for this lateness? Thank you in advance for any comments.

Comments

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It may be easier just to

pjclar02 | Mon, 19/12/2011 - 21:09

Is the loan interest on the

Settingupalone | Tue, 20/12/2011 - 09:01

What do you mean by allowable?

Euan MacLennan | Tue, 20/12/2011 - 10:50

Yes - realised after I posted

Settingupalone | Tue, 20/12/2011 - 11:02

Retrospective?

andy.partridge | Tue, 20/12/2011 - 11:12

So just to clarify. As I have

Settingupalone | Tue, 20/12/2011 - 11:42

Advice to client BEFORE situation arises - NO RESOLUTION

DMGbus | Tue, 20/12/2011 - 13:31

Default position?

andy.partridge | Tue, 20/12/2011 - 13:55

Contemporaneous + resolutions never heard of in context of P11Ds

DMGbus | Tue, 20/12/2011 - 18:26

Interest capitalisation?

dhalsey | Tue, 20/12/2011 - 20:10

Thank you all for comments

Settingupalone | Wed, 21/12/2011 - 10:17