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Late accounts with large overdrawn DLA

P11D question

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I have prepared and ready to submit accounts for a financial year ending in early 2019

There is a 30k overdrawn DLA and there should have been a P11D submitted.  There was no payroll scheme in place, can a P11D still be filed, I've never had to do one retrospectively.

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RLI
By lionofludesch
27th Jan 2022 14:42

Yes, of course.

You might need to set the PAYE scheme up first, though.

Thanks (1)
Replying to lionofludesch:
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By legerman
27th Jan 2022 16:10

lionofludesch wrote:

Yes, of course.

You might need to set the PAYE scheme up first, though.

Thanks, I'll get in touch with HMRC

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By Calculatorboy
27th Jan 2022 17:28

Why not charge interest for the problem period

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By Truthsayer
28th Jan 2022 01:03

You might want to consider charging the official rate of interest on the DLA, so there is no cheap loan benefit. That's what I always do.

Thanks (4)
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By pauljenkinsandco
31st Jan 2022 14:49

Charge interest and there will be no benefit in kind to report

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By Cylhia66
01st Feb 2022 04:54

HMRC charges you (your client to be precise) £400 for filing a P11D late.

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By Lawrence82
01st Feb 2022 17:23

Doesn't a late p11d trigger a £100 fine per employee per month that it is late?

I would avoid that by charging interest.

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Replying to Lawrence82:
RLI
By lionofludesch
01st Feb 2022 17:31

Ridiculously high penalty charge.

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