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- Are you a director, or do you have employees earning more than £8,500 pa?
- Do you know what needs to be included on a form P11D?
- Have H M Revenue & Customs queried the forms P11D submitted by you?
- Have you incurred penalties for the late filing of forms P11D?
- A form P11D has to be prepared for all directors (with very few exceptions) and any employees who earn more than £8,500 pa, including expenses and benefits.
- P11Ds have to be prepared for each year ending 5 April.
- Responsibility rests with the employer for submitting the forms P11D to H M Revenue & Customs by the due date, currently 6 July, following the end of the tax year.
- Penalties are imposed on employers by H M Revenue & Customs for late submission or incorrect completion of the forms.
- We undertake preparation of forms P11D and submit them to H M Revenue & Customs.
- Whilst preparing the forms we will calculate the Class 1A NIC liability due in advance of the due payment date, and also prepare the Section 336 claims for expenses included on the forms P11D which were incurred ‘wholly, exclusively and necessarily’ in the performance of the employee’s duties.
- Alternatively, we offer advice and assistance to those clients who wish to prepare their own forms P11D.
- We assist with any queries raised by H M Revenue & Customs on the forms P11D submitted.
- We correspond with the Revenue to obtain a dispensation for certain expense payments which, once obtained, will no longer need to be included on the forms P11D.