Reporting requirements for P11Ds

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The deadline for declaring expenses and benefits is looming.

If you’re an employer and need to report your expenses and benefits for your employees and directors, you will need to complete a P11D form and then submit a P11D(b) form to HM Revenue & Customs by July 6, 2017.

The benefits and expenses you can claim on fall within the following 14 sections:

  • Section A – Assets Transferred (cars, property, good or other assets)
  • Section B – Payments made on behalf of the employee
  • Section C – Vouchers and credit cards
  • Section D – Living Accommodation
  • Section E – Mileage allowance payments / passenger payments
  • Section F – Cars and car fuel
  • Section G – Vans and van fuel
  • Section H – Interest free, low interest and notional loans
  • Section I – Private medical treatment or insurance
  • Section J – Qualifying relocation expenses payments and benefits
  • Section K – Services supplied
  • Section L – Assets placed at employee’s disposal
  • Section M – Other items
  • Section N – Expenses payments made on behalf of the employee

A separate P11D form will need to be used for every employee and director.

A copy of this form must also be given to your employees and directors by July 6, 2017.

“It is very important to declare any expenses and benefits,” said Peter Way-Rider, tax manager at Ellis & Co.

“You will be liable for a fine of £100 per 50 employees for each month your P11D(b) is late.

“We submit hundreds of P11D(b) forms to HMRC every year, it is crucial they are filled in correctly and on time.”

For further information on P11Ds contact Peter Way-Rider on 01244 343504.