P11d Submissions 2018-2019

P11d Submissions 2018-2019

P11d-Submissions

Now we are well in to the new tax year we can turn our attention to the next annual task namely producing employee P11d forms and preparing employer P11d(b) submission to HMRC.

What are P11ds?

P11d forms are an annual benefit statement provided to employees detailing the annual value of their benefits and the associated PAYE liability.

When do P11ds have to be provided to employees?

Employees should receive their P11d for 2018-2019 by 6th July 2019. This can either be in paper format or electronically.

When is the deadline for HMRC P11d(b) submission?

Your electronic submission to HMRC which includes company liability and employee breakdown should also be made by 6th July 2019

When is the deadline for paying Class 1A NICs?

Payment must reach HMRC by 22nd July (19th July if you pay by cheque). Payment should be made using appropriate Accounts Office Reference.

How do employees pay PAYE on benefits received?

When the P11d(b) submission has been sent to HMRC they will calculate the tax due on each employees benefits and adjust their tax code accordingly for 2019-2020. Tax is therefore collected in arrears i.e. in the following tax year, tax codes are issued electronically directly to the payroll processor.