Completion of forms P11D and the Payrolling of Benefits in Kind (BiK)

Audit & Compliance Manager, Simon Wright, is reminding clients of the options available for reporting expenses and benefits provided to their employees.

As we are approaching the end of the UK tax year, this is a reminder to our clients of the options available for reporting expenses and benefits provided to their employees.

Where reporting of benefits to HM Revenue and Customs (HMRC) is required, activpayroll are happy to assist with the preparation of forms P11D, and to ensure that these forms are submitted to HMRC by the deadline date of 6th July.

Some of our clients registered for HMRC’s Payrolling of Benefits in Kind service prior to 6th April 2016 will no longer be required to submit forms P11D for benefits that have already been taxed through the payroll. There is still some limited reporting required to HMRC at the end of the tax year, however, clients should contact Simon if they require assistance with this reporting.

If clients who are not already registered wish to register for the HMRC’s Payrolling of Benefits in Kind service for the 2017/2018 tax year, they are required to register with HMRC before 6th April 2017. We published an article here last year that gives you information about this service, what the benefits are, and how to register with HMRC.

The only significant change to the article from last year is that the vouchers and credit cards which were previously excluded from Payrolling of Benefits in Kind can now be included.

If you would like to discuss this service, please contact your activpayroll payroll team or Audit and Compliance Manager Simon Wright on 0131 240 3411 or simon.wright@activpayroll.com