Aside from the plethora of schemes to support businesses during the coronavirus disruption, employers should not forget that there is a raft of filing obligations that still need to be met. This post lists the various employer reporting obligations regarding employee benefits and expenses for 2019-20.
The following table is reproduced from the government website:
What you need to do | Deadline |
Submit your P11D forms online to HMRC | 6 July 2020 (6 July following the end of the tax year) |
Give your employees a copy of the information on your forms | 6 July 2020 |
Tell HMRC the total amount of Class 1A National Insurance you owe on form P11D(b) | 6 July 2020 |
Pay any Class 1A National Insurance owed on expenses or benefits | Must reach HMRC by 22 July 2020 (19 July if you pay by cheque) |
1. P11Ds – these are the forms that advise HMRC of the benefits provided by employers to employees. Don't forget this could relate to a Director who may be the only employee of a business. For example, company cars, health insurance, over drawn directors loan account, loans to staff etc. e have attached a handy link to the A-Z list of possible benefits you may be required to report on A-Z of expenses and benefits
2. Class 1A NIC is an employer National Insurance charge usually based on 13.8% of the cumulative benefits advised on P11D submissions for employees.
Employers will be relieved to note that any Class 1A NIC paid is a deduction for tax purposes.
And do not forget the P60s
Employers have a statutory duty to provide employees with a copy of their P60 – a statement of gross pay and tax deducted – for the tax year 2019-20, on or before 31 May 2020.
We can help
We are busy preparing many P11d's on your behalf. If you haven't yet spoken to your Client Manager and feel you need help please get in touch.
