30 June 2020
When is the P11D filing deadline?
The P11D and P11D(b) filing deadline is 6 July 2020.
What is a P11D form?
If you run a business with employees, you may need to submit a P11D form. The P11D is an annually submitted form that lets HMRC know if National Insurance Contributions (NICs) or tax is owed on benefits and expenses not put through payroll for the tax year ending 5 April 2020.
Benefits and non-exempt expenses include company cars and health insurance – the full list is available here. You need to send a P11D for each employee in receipt of benefits and/or non-exempt expenses.
HMRC has also provided guidance on how to treat certain expenses and benefits provided to employees during coronavirus, which you can read here.
Planning is key
It’s important that these are filed correctly to make sure that your employees don’t pay the wrong amount of tax. With the deadline fast approaching, it’s also vital that you have sufficient time to complete and submit the form.
You will get a penalty of £100 per 50 employees for each month or part month your P11D(b) is late. You will also be charged penalties and interest if you are late paying.
If you need advice or help on completing your P11D or any other payroll service, we can help. We work hard to keep your workplace fully compliant with EU employment practices and take care of the complex calculations when it comes to pensions, statutory leave, and expenses.
Plus, be sure to bookmark our 2020/21 calendar for all the key tax and payroll dates you need to be aware of.