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Expenses and benefits deadline looms
Expenses and benefits not payrolled for the 2016/17 tax year will need to be reported to HMRC by 6 July 2017. Employers can report them by completing specific forms, which are available to download on the HMRC website. There are two forms to complete – P11D and P11D(b).
What to do
You need to fill out a P11D form to report any end-of-year expenses and benefits you have given to your employees or directors within your business. Form P11D(b) is separate and must be completed to report the amount of class 1A national insurance contributions (NIC) due on benefits.
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