P11D Form

P11D forms are required whenever a business employee or director receives expenses or benefits in kind that are not processed through payroll. Make sure you get it right by outsourcing to a specialist like Finesse Resources with a passion for payroll.

For any process to be efficient, it needs to be regularly reviewed and improved. That’s where auditing comes in. A payroll audit is the best way to make sure your finances are in check and your employees are being paid correctly every time.

What is a P11D form?

A P11D is a tax form that needs to be completed and sent to HMRC whenever an employee receives benefits in kind that are not processed through payroll. That’s any non-cash benefit or expense of monetary value that directly benefits the employee, such as a company car or private healthcare.

Not all benefits in kind incur tax, however, the criteria for deciding which do and which don’t is a complex affair. HMRC are responsible for deciding which benefits and expenses require tax, which is where P11D forms come in.

There is also a P11D(b) form that is sent alongside the P11D which details the amount of any additional Class 1A National Insurance due on the expenses and benefits.

When do P11D expenses need to be filed, and who files them?

When do P11D expenses need to be filed, and who files them?

P11Ds are filed and paid for by the business, not the employee. The deadline for submission is the 6th of July for P11D forms from the previous tax year ending on the 5th of April. Late or incorrect submissions are penalised by fines, which are calculated by the number of employees and accrued monthly until the issue has been rectified.

Outsourcing P11D services with Finesse Resources

Outsourcing P11D services with Finesse Resources

If you’re a small to medium-sized business that doesn’t have a dedicated payroll department, P11D forms can be a complicated and time-sapping activity. The best solution is to leave it to us, your expert payroll partner, to ensure all P11D forms are filed correctly and submitted on time. This is one of the many services we provide with our full-service payroll solutions package.

Choose Finesse Resources as your trusted payroll partner

At Finesse Resources, we take care of your payroll so you can focus on growing your business. Our bespoke payroll packages are tailored to your needs and the size of your business, whether you’re an up-and-coming micro business or an established company with hundreds of employees.

We’re based in the North West of England and work with companies of all sizes and in a wide range of sectors based locally and nationally. Make sure your employees get paid correctly and on time, every time by making us your chosen payroll partner.

Find out more about our business payroll services

Fill out the form below or call us on 03303 201 924 to discuss your payroll needs.

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