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Benefits in kind (P11D)

Are you providing your employees with benefits in kind? Are these being reported on a HM Revenue & Customs (HMRC) form P11D each year?

Employers are required to provide details of non-cash benefits and employee expenses every year to HMRC on form P11D.  These forms are to be completed for each employee earning £8,500 or more per year and company directors.

P11D forms are to be completed for the tax year up to 5 April each year and are to be submitted to HMRC by 6 July each year to avoid late filing penalties.

Examples of benefits in kind include employers providing company cars and vans to employees that are also available for personal use, personal healthcare cover and beneficial loans to employees of over £10,000.

For more information or assistance with your P11D forms please get in touch.