The P11D is a statutory form requested by HMRC by UK-based employers that detail the cash equivalents of benefits and expenses given to their employees and directors, mainly during the tax year. Benefits in kind are reported using the P11D method.
Your employer provides products or services in addition to your wages, such as private healthcare, interest-free loans (for example, to pay for train season tickets) and company vehicles. You will report these things to HMRC on your annual Self Assessment return using the yearly P11D form.
What information does a P11D form contain?
The employee’s basic identifying information is included on a P11D form (including their name, date of birth, National Insurance number and so on). The remaining document would detail any benefits provided in addition to their regular pay.
The form includes sections on everything from lodging and mileage reimbursement to credit cards and vouchers. HMRC uses this information to determine if the employee (staff) owes any tax on their compensation.
Who can file a P11D?
P11Ds are filed by the employer, not the employee, though many contractors and freelancers consider them the same.
Sections on the P11D
There are presently 14 sections on P11D, which are as follows:
|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 Allowances|
|Section F||Cars and car fuel|
|Section G||Company Vans|
|Section H||Beneficial Loans|
|Section I||Medical Health|
|Section J||Qualifying Relocation Payments|
|Section K||Services supplied|
|Section L||Assets placed at employee’s disposal|
|Section M||Other Items|
|Section N||Expense payment|
P11D filings aren’t related to a fiscal year, and they all have to be submitted by July 6 of the following year. As a result, P11Ds for the tax year ranging April 6, 2020, to April 5, 2021 must be filed by July 6, 2021.
If you miss the deadline of July 6 (either online or on paper), you won’t be penalised right away; you’ll have about a fortnight to correct your mistakes and submit. If your P11D is still missing after July 19, your company (not you personally) will be fined £100 per month (or part month) for every 50 employees.