It’s P11D time!
Post Author:
Anne Melville
Date Posted:
April 30, 2019
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Forms P11D for 2018/2019 are due to be submitted to HM Revenue & Customs (HMRC) by 6 July 2019. A form P11D reports any benefits in kind or non-exempt expenses payments received by employees, including company directors, and their families or household to HMRC. Any Class 1A National Insurance due on the benefits in kind provided is due for payment electronically by 22 July 2019.
Common benefits in kind include:-
- Private medical treatment or insurance
- Private dental treatment or insurance
- Interest free or low interest loans of over £10,000
- Company cars and fuel
- Company vans and fuel
- Assets placed at the employee’s disposal
- Golf club or other sports club subscriptions
HMRC will charge a penalty of £100 per month or part month that a P11D(b) is late and will also charge interest and late payment penalties if the Class 1A National Insurance is paid late.
If you require any further information, please download our What is a P11D leaflet below:-
You can also read more about Forms P11D in our earlier blog:-
Photo by Sonja Langford on Unsplash
