Section A of the P11d form covers ‘Assets Transferred to Employees’.
In essence that is the value of any assets, including cars and property, that have been transferred from the employer to an employee or director.
What to Include Section A of the P11d form
The transfer of assets such as company cars or laptops need to be included in this section
How to Calculate Value the Benefit of Assets Transferred to Employees
The section A value of an asset being transferred should be either:
- The market value of the asset at the date of transfer** (less any cash contribution made on transfer);
- a figure based on the cost to the employer.
Market value is the amount that the asset would be worth on the general market, although this can vary depending on where you look.
You must make a reasonable estimate and keep records supporting the value recorded on the P11d form in case HMRC asks.
**If the asset was loaned to the employee or director prior to the date of transfer, then the date of transfer will become the date the asset was first loaned.
Who Pays Tax on Section A
Tax on assets transferred included in Section A on the p11d is paid by the employee and Class 1a National Insurance payable by the employer.
Updated 23 January 2020