P11D not completed for year to March 2011

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 |

Is the loan interest on the

Settingupalone |

What do you mean by allowable?

Euan MacLennan |
Euan MacLennan's picture

Yes - realised after I posted

Settingupalone |

Retrospective?

andy.partridge |
andy.partridge's picture

So just to clarify. As I have

Settingupalone |

Advice to client BEFORE situation arises - NO RESOLUTION

DMGbus |
DMGbus's picture

Default position?

andy.partridge |
andy.partridge's picture

Contemporaneous + resolutions never heard of in context of P11Ds

DMGbus |
DMGbus's picture

Interest capitalisation?

dhalsey |

Thank you all for comments

Settingupalone |