P11D

Employee expenses and benefits

Most employers will be obliged to file a P11D form for each director and employee enrolled in their PAYE scheme.

It reports any benefits your staff have received and any expenses payments that have been made to them other than those put through payroll.

Depending on the size of your business, this can be a substantial bureaucratic burden, especially as you need to ensure those employees who file a self-assessment tax return also receive a copy for their records.

Horsfield & Smith can take this task off your plate, tackling the paperwork and filing on your behalf, including the subsidiary P11D(b) form recording any additional National Insurance contributions (NICs) due.

We’ll ensure you meet government deadlines and that tax code errors are avoided.

We can also help you understand what can and cannot be claimed as a business expense, what counts as a ‘taxable benefit in kind’ and how you can avoid incurring additional tax obligations through incorrect administration of employee benefits.