P11D - Expenses Reporting Time

Many people think a P11d is only needed if you have benefits such as private health or a company car, however, this is not the case. If you are a company director or are an employee earning in excess of £8500 per annum on a pro rata basis then it is likely you will need to deliver a P11d. This therefore also applies to sole trader employees.

The P11d covers expenses claims such as use of a company credit or charge card (debit card is not reportable) and personally incurred expenses (excluding mileage) on behalf of the business. We've added a FREE guide to completion of the return to our website. It can be downloaded by clicking here. We've also placed a complimentary copy of the claim letter to use with your tax return on the same page of the website.

It's possible to obtain a dispensation agreement with HM Revenue & Customs to cover the expenses claims, thus removing the need for the P11d in those cases. We also added a copy of the application form for the dispensation to our website to assist. It can also be downloaded by clicking here.

Returns for the 2010-11 tax year need to be filed with HMRC by 6th July 2011. if you're stuck, call Graham on 01235 868888.