Reporting of Expenses & Benefits – 2020/21

Employers are reminded that they must report any expenses and benefits provided to employees in the tax year ended 5th April 2021 by 6th July 2021.
This needs to be done for every employee who has been provided with expenses and/or benefits, unless this has already been reported via the payroll during the year.

A separate Form P11D should be completed in respect of each employee, who should be given a copy of same by 6th July 2021.

This quickest way to submit the Forms P11D and Form P11D(b) is via the employer’s HMRC Business Taxes Account.

Payment of the Class 1A National Insurance Contributions reported on the Form P11D(b) should be paid to HMRC by 22nd July 2021 (or 19th July 2021 if payment is made through the post).

Failure to make the necessary report of expenses and benefits to HMRC will result in a penalty being issued to the employer. It may also result in the employee paying the incorrect amount of tax and being out of pocket.

Guidance on the completion of Forms P11D and P11D(b) can be found here.

Guidance on how to make the payment of Class 1A National Insurance Contributions can be found here.

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