Employee Expenses & P11D

Every year each employer needs to report all benefits in kind and certain types of expense payments to or on behalf of employees to HMRC. We will review your records (easy if they are up to date and on Xero) and will also ask you for information about anything that might need to be reported. The reporting covers the tax year (to 5 April) and needs to be concluded by 6 July each year.

It can be easy to make mistakes in this area though and by the time they need to be reported it’s often too late, incurring unnecessary costs for you, the employer. We’re here to help though – we cover a lot of the common (and recurring) areas in our regular news updates, such as how to treat customer entertaining costs, what’s permitted in terms of travel costs, and what is allowable in respect of staff events.

The key thing though is to contact us if you are considering buying or leasing a new vehicle, if you are planning an event, or if something is changing regarding travel expenses, or just if you’d like to confirm that what you’re already doing is permissible, and tax-efficient.