A P11D is an end of tax year form that reports certain benefits, which employers have provided their employees (including directors).
These benefits or ‘Benefits in Kind’ are perks/benefits which an employee or director has received in addition to their salary and can incur Class 1A National Insurance contributions – which are currently at 13.8%.
Another form, the P11D(b), is also sent with the P11D form which shows how much National Insurance is due on the benefits.
A P11D form needs to be submitted for each tax year and is due for submission by 6th July following the end of the tax year. Any late submissions will incur a penalty of £100 per month from HMRC until the form is filed.
Some of the most common benefits that will need to be included on the form are:
If there aren’t any benefits to report then a nil P11D form must be submitted to HMRC.
If there’s a payment of Class 1A NICs due, the company will need to make this payment to HMRC by 19th July.
If you have a P11D then these figures will also need to be included on your self-assessment tax return. So, it’s important you don’t file your self-assessment for that tax year before the P11D is submitted.Go Back
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