P11d Deadline 6th July 2016

P11d due

The P11D is a statutory form required by HMRC from UK based employers detailing the cash equivalents of benefits and expenses that they have provided during the tax year to their directors and employees.

By law, at the end of each tax year you must give HMRC the details of any expenses payments, benefits and facilities provided to any employee or director if they earn more than £8,500 per year. You also must also include details on any director earning less than £8,500 per year unless;

  • They are a full time working director with no material interest in the company

or

  • A director of a charity or non-profit making concern

You must also include any expense payments, benefits or facilities provided to members of the director’s or employee’s family or household. For most purposes ‘family or household’ is
defined as the employee’s spouse or civil partner, sons and daughters and their spouses or civil partners, his or her parents, servants, dependants, and guests. You must also give the information to each director and relevant employee.

The deadline for notifying HMRC is 6th July 2016. If you require any help with the completion of P11D’s for your business or any questions relating to the taxation of benefits for directors or employees please contact your local Baldwins office

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