Self Assessment Tax Return bill paid by the company-BIK?

Self Assessment Tax Return bill paid by the...

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Question as above

Many Thanks for any help
david charlton

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By User deleted
19th Oct 2005 21:56

Record it on the p11d
In these type of situations, i always try to determin an amout attributable for preparation of the directors tax return and include on the P11d plus vat.

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By User deleted
20th Oct 2005 08:40

Yes, but...
If the bill was issued in the name of the director and paid by the company, then it's a discharge of the director's pecuniary liability. The amount of the bill is liable to Class 1 NIC at the time of payment and should be put through the payroll. The BIK should be entered on the appropriate P11D but no Class 1A NIC is due.

If the bill was issued in the company's name including a specified amount for the preparation of the return, then this amount should be entered on the P11D and subjected to Class 1A NIC.

If the bill was issued in the company's name but did not specify an amount for the preparation of the return, then an appropriate amount (see below) should be entered on the P11D and subjected to Class 1A NIC.

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