What needs to be included on a P11D form?

The P11D form is used to report benefits in kind, such as private healthcare, beneficial loans, living accommodation, company cars etc.

As benefits in kind effectively increase your salary, there may be National Insurance contributions (NICs) to be paid on them as they are effectively a salary increase, but those contributions will be paid by the company, not the individual.

Who needs to file a P11D?

P11Ds are filed by the employer, not the employee and must be lodged with HMRC  by 6 July following the tax year in question. So, for the tax year running 6 April 2022 to 5 April 2023, it must be filed by 6 July 2023.

What needs to be included?

  • Health insurance
  • Non-business travel expenses
  • Non-business entertainment expenses
  • Company cars
  • Beneficial loans with a combined outstanding value to an employee of more than £10,000 throughout the whole tax year

For certain business expenses, there are exemptions whereby the majority of business expenses incurred personally by company employees no longer need to be recorded on a P11D form. Exempt expenses include:

  • Business Travel
  • Business entertainment expenses
  • Credit cards used for business purposes
  • Fees and subscriptions.

Late filing penalties

As with all tax matters, it is important to file with HMRC by the deadlines as you could incur penalties, although if you miss 6 July, you are likely to be given a couple of weeks’ grace.

Beyond that, the company will incur fines of £100 per month (or part month) per 50 employees. If you need help with P11D or have questions about any workplace benefits, please contact us.

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