Louise Mulgrew
2 minutes length
Posted: 9th February 2015

Getting your head around the P11D [Free Webinar]

Every year around five million P11Ds are submitted, with a total approximate value of the taxable benefits being £7.4 billion. You can find out more about P11Ds with our free webinar.

 A P11D is the form that is submitted to HMRC to let them know about any benefits in kind that may have been paid to an employee during the financial year. They may be thought of as being “perks” and could commonly include things such as:

  • Company car payment
  • Private healthcare
  • Interest free loans for things such as season ticket payment for commuters
  • Travel and hotel accommodation

The P11D must be filed for any employees or directors that are earning over £8,500 per year or any director that owns more than a 5% stake in the company. It is also the company’s responsibility to file the form to HMRC, not the employee’s.

The date for submitting a form does not run in line with your company’s tax year, either. P11Ds should be submitted by every company by 6th July. As you may have guessed, fines will be issued for late submission and if the HMRC deem the form to be purposefully filled incorrectly; or to mask any liabilities; your company could also be fined for this.

The fines associated with P11Ds are:

Number of Employees

Monthly Penalty

1 – 9

£100

10 – 49

£200

50 – 249

£300

250 or more

£400

As with many of the different aspects of running your payroll, streamlining your processes to gain maximum efficiency is extremely important. IRIS P11D Organiser is a great tool that you can integrate with your payroll software in order to effectively and easily save time. Why not book a free demo and see how IRIS P11D Organiser can work for you? 

Find out more about IRIS P11D Organiser

You can learn more about how to produce and submit your P11Ds in a quicker, easier way with methods such as spreadsheet importing, linking the process with your payroll software in order to avoid duplication and manually imputting information by joining our free webinar.

Join the free webinar on 4th March at 4.00pm

Book my place now