A P11d form is an HMRC form used by an employer to let HMRC know about any benefits or perks employees have received.
The information contained in the form is used by the:
- Employer to complete a P11d(b) which shows additional tax payable on the benefits they give;
- Employees so they know the taxable value of the benefits they have received and can pay any additional tax due via their self-assessment tax return.
Here are some examples of taxable benefits given to employees that are typically included in a P11d:
- Private Healthcare;
- Interest-Free loans for a train season ticket;
- Gym membership;
- Company Car or Van for business and private use;
- Fuel Card;
- Mileage Allowance.
There is a full list of taxable benefits here on the HMRC website. One P11d form needs to be completed by the Employer and submitted to HMRC for each relevant employee separately. Each employee must also be given a copy of the form, so they know the value of the benefits they have received.
Example P11d Form
There is now an online version that you can access when you log into your tax account. Whether you go online or use the paper version, the P11d form is made up of 14 sections. Each section relates to a different type of benefit. Here are the 14 sections:
Section A – Assets transferred
Section B – Payments made on behalf of the employee
Section C – Credit cards and vouchers
Section D – Living Accommodation
Section E – Mileage allowance
Section F – Cars and fuel
Section G – Company vans
Section H – Beneficial loans
Section I – Private Medical Healthcare
Section J – Qualifying Relocation payments
Section K – Services supplied
Section L – Assets placed at employee’s disposal
Section M – Other items
Section N – Expenses payments
Who needs to complete a P11D form?
A P11D form must be completed for Company Directors or Relevant Employees who earn over £8,500 per year. The P11D forms are completed by the Company, not the Employee. But if you run a small business you may find yourself needing to fill out both the P11d and P11d(b) forms.
A P11D form needs to be filled in for relevant employees only. A relevant employee is a Company Director or Employee who receives taxable benefits.
Tax and National Insurance on P11d Benefits
An Employee pays income tax on their P11d benefits and the Employer pays Class 1a National Insurance on any P11d benefits it provides.
The amount of additional tax an employee will pay will depend on the amount that they earn in total during a tax year (6 April to 5 April).
What is the P11d Deadline?
The deadline for submitting P11d and P11d(b) form is 6 July following the end of the tax year that the benefits were provided.
So the P11D form for the tax year 2017/2018 needs to be filed by July 6th 2018
Any Class 1A National Insurance that the employer needs to pay is due by the 22nd July, if paying electronically (19th July if paying by cheque).
There are penalties for missing these deadlines.
What are the Penalties for Missing the P11d Deadline?
Employers will get a penalty of £100 per 50 employees for each month or part month your P11d or P11D(b) forms are late.
You’ll also be charged penalties and interest if you’re late paying HMRC.
If You Need to Complete Paper Versions
If you are an agent or are not able to go online, then you can complete paper versions. Read this post on Completing P11d Paper Versions but you can still follow the guidance in this step-by-step guide so you know what to include in each section.
If you have any problems or specific questions relevant to your own situation whilst filing your P11d forms online then contact the Employer Helpline on 0300 200 3200 for assistance.
VAT and P11d Values
Values should include VAT on the P11d Form whether or not the VAT amounts are recoverable.
Where to Find Your P11ds Online
You’ll need to have PAYE set up in your Business Tax Account online.
Here’s how to get started filing your P11d forms online:
1. Login into your Business Tax Account Online here
2. Choose the option to ‘Report any employee benefits and expenses – submit P11d’ within the PAYE for Employers section
3. Select to submit an ‘Electronic P11d’ on the next screen
4. Check Your Employee List
Make sure that all the employees you need to file P11d forms online are on the employee list.
If you any are missing, choose the option on the left to ‘Add Employee’.
5. Begin Filing P11d Online for each employee
Select the name of each employee that need a P11d filed online for by choosing the link ‘Expenses and Benefits’.
You can now select the Expenses and Benefits that your employee received. Tick off the relevant sections you need to report on and begin completing the P11d online.