Reporting Expenses

Reporting Expenses

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A new client (single person company) did not submit a P11D in July so in view of the potential penalties I am exploring possible options. There are three items that might need to be reported and I want to garner opinion on whether they do in fact need to be submitted in a late P11D.

The first item is subsistence. There is about £100 worth of meals taken in the year by the director while away at clients. I feel that this can be dealt with by charging this sum to the director's current account (which can easily accommodate it) rather than to the company.

Secondly a slightly smaller sum categorised as client entertaining. Similarly this can be charged to the director.

Finally there is the matter of travelcards. The company has paid for travelcards where there is no benefit to the employee as the cost of the travelcards is less than the cost of tickets for individual journeys would have been. As there is no benefit to the director, is a P11D entry required?

Your thoughts much appreciated

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