P11D forms are due soon – act to avoid penalties

Now that the 2013-14 tax year has come to an end, employers need to complete expenses and benefits forms P11D for each employee and director to whom they’ve provided expenses and benefits during the 2013-14 tax year, and one form P11D(b) to declare the overall amount of Class 1A National Insurance contributions (NICs) due on all the expenses and benefits provided.

All of these forms must be submitted to HMRC by 6 July 2014 with penalties levied for late and incorrect returns.

If you have a P11D dispensation in place, this will negate the need to include the items covered by the dispensation on the P11Ds.

If we currently prepare P11Ds for you, we will contact you in the next few days outlining the information we will need.

If we don’t ’usually prepare P11Ds for you but you think you may need to file a return for 2013-14 or if you would like some information regarding P11D dispensations, we would be happy to discuss your requirements with you.

If you have any queries, please get in touch with Helen Sewell on 01527 558539 or email [email protected].