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What is P11D Return?
If you are an employer and providing expenses and benefits to your employees, you have to mandatorily file P11D return to HMRC every year before 6thof July after the completion of the financial year. For ex – Fuel expenses or company car. P11D form is basically used to record expenses and benefits in kind provided by the employers to their directors & employees which are not included in their wages or payroll. There are various benefits provided by the employer to their employees and the same are as follows –
Every employee receiving these benefits needs to complete this form and submit the same to his/her employer. P11D (b) form is also filed by some of the employees in case employee owes class 1A national insurance. You need to submit P11D (b) form in the following situations –
- Your company already submitted a single P11D form.
- In case you are giving benefits or providing expenses to your employees through company’s payroll scheme.
- In case you receive any message or a form via e-mail from HMRC to file the same.
Note – Class 1A national insurance is to be paid on benefits or expenses given by the employer to their employees.
Who is responsible for Filing P11D Returns?
It is the responsibility of every employer to file P11D return to HMRC before 6th July every year. In case you are a self-employed person, freelancer or a contractor you need to file P11D return as you are performing the role of both the employer & the employee.
What we offer?
Filing P11D return is not an easy task as it is complicated and a time consuming process. Proper guidance is essential in order to file P11D returns on time. It is necessary to file P11D returns before the deadline in order to remain compliant with HMRC. Finacbooks provide the following benefits and help you in the following ways –
- Accurate preparation and submission of P11D return to HMRC before the deadline
- Filing by skilled, professional & qualified accountants.
- Helps in minimization of tax or tax saving
- Fully compliant with HMRC.
- Secure documents exchange
- No risk of penalties from HMRC.
How Finacbooks help in P11D Return Filing?
Finacbooks is a leading UK portal providing accounting, finance & taxation services to freelancers, contractors, consultants and small businesses. We are having more than 10 years of experience helping freelancers, contractors, consultants & small businesses by offering P11D return service. We will guide you through the entire process of P11D return. To avail the best deals on P11D return, kindly call us at 03300886645 or you can also e-mail us at business@finacbooks.com
P11D Returns FAQs
We suggest you not to file expenses or benefits in P11D form without a proper guidance as it can lead to fines & penalties. There are two ways by which you can file your P11D form –
- Avail the P11 return service of Finacbooks in order to prepare & submit P11D form.
- Take the advice of our accountants.
After April 2016, following expenses are exempted from P11D form –
- Any business travel
- Any expenses incurred for business entertainment.
- Credit cards used for business services
- Any fees & subscriptions for employees needed for business purpose.
