Do not forget to file returns for benefits and expenses

Aside from the plethora of schemes to support businesses during the coronavirus disruption, employers should not forget that there is a raft of filing obligations that still need to be met. This post lists the various employer reporting obligations regarding employee benefits and expenses for 2019-20.

 

The following table is reproduced from the government website:

 

What you need to do

Deadline

Submit your P11D forms online to HMRC

6 July following the end of the tax year

Give your employees a copy of the information on your forms

6 July

Tell HMRC the total amount of Class 1A National Insurance you owe on form P11D(b)

6 July

Pay any Class 1A National Insurance owed on expenses or benefits

Must reach HMRC by 22 July (19 July if you pay by cheque)

 

1. P11Ds – these are the forms that advise HMRC of the benefits provided by employers to employees. For example, company cars, health insurance, etc.

2. Class 1A NIC is an employer National Insurance charge usually based on 13.8% of the cumulative benefits advised on P11D submissions for employees.

Employers will be relieved to note that any Class 1A NIC paid is a deduction for tax purposes.

And do not forget the P60s

Employers have a statutory duty to provide employees with a copy of their P60 – a statement of gross pay and tax deducted – for the tax year 2019-20, on or before 31 May 2020.

We can help

Clients to whom we provide payroll and associated services will be glad to know that we will complete all of the above for you; unless you have other arrangements to handle these tasks in-house.

Please call if you need help.

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