Reporting expenses and benefits: How to reduce the P11D pain
Mike Bull investigates how organisations can best approach their P11D return, whilst minimising the administrative burden this places on payroll.
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P11D pitfalls
If you are "Going back to basics" it's a good idea if those basics are correct. Forms P11D are completed for employees with an earnings rate of £8500 or more, not those "eaning at a rate of over £8500". Second, forms P11D(b) must be submitted before 7 July following the end of the tax year (see HMRC booklet E10, page 23). It is incorrect to say they have to be submitted by 19 July. The second page of form P11D(b) makes clear that it is only if the return is made after 19 July that automatic penalties will apply.