What is a P11D?

Do you provide expenses or benefits to employees or directors? If you do you will need to tell HM Revenue and Customs (HMRC) and pay tax and National Insurance on them.

Examples of expenses and benefits include:

  • Company cars
  • Health insurance
  • Travel and entertainment expenses
  • Childcare

At the end of the tax year, you’ll usually need to submit a P11D form to HM Revenue and Customs (HMRC) for each employee you’ve provided with expenses or benefits. HMRC don’t take kindly to late submission or incorrect completion of P11D’s and do impose strict penalties.

You can deduct and pay tax on most employee expenses through your payroll (sometimes called ‘payrolling’) as long as you’ve registered with HMRC before the start of the tax year (6 April).

What needs to be included on a P11D?

Each expense or benefit is calculated differently – do you know what needs to be included?

Don’t worry Wagemate can prepare and submit your P11D’s or deal with your employee expenses through your payroll for you.

  • Evaluate the information you provide and advise on which benefits should be included.
  • Preparation and submission of your P11D’s and also your P11D(b) which tells HMRC how much Class 1A National Insurance you need to pay for all the expenses and benefits you’ve provided.
  • Generate P11Ds in pdf format for distribution to your employees.
  • Advise and assist directly with HMRC on any queries they may have.
  • Assess and review updated tax codes and import into your payroll.

Wagemate ensures that all employee and director expenses and benefits are submitted accurately and on time to keep you compliant. Contact us now for a free no obligation quotation.

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