hints and tips

Be aware of the rules regarding reporting expenses you reclaim from your company.

If you reclaim expenses from your company e.g. travel & subsistence, memberships or subscriptions, etc, you need to add this to your payroll year end return and also complete a P11D detailing the expenses paid to you. If you fail to submit a return you can face fines of up to £3000. It is possible to agree a dispensation with HMRC for these expenses. The main condition is an independent checking system which may be difficult if you work alone.

The payroll year end return is due with HMRC by 19th May. The actual P11Ds are due with HM Revenue and Customs by 6th July with any payment owing from them to be made by 19th July.

Inca helps many of its clients prepare the necessary documentation and returns for P11Ds including letters to ensure the individuals are not taxed personally for expenses incurred on behalf of the company. Like everything with Inca, the work is carried out on a fixed price basis, agreed in advance. If you're worried about expenses and benefits reporting and would like to discuss your needs, please contact us for a chat.