P11D Employee Benefit in Kind

By 3rd April 2015 Blog No Comments

Drummond Laurie Chartered Accountants

BACKGROUND

Employers who provide taxable benefits to their staff will be aware that they have a   responsibility to report these to HM Revenue & Customs (HMRC) at the end of each tax year. This is done through the P11d form. The typical benefits which are reported include;

  • Private medical insurance
  • Company cars and fuel
  • Employee loans
  • Employee living accommodation

PROBLEM

Where taxable benefits such as these are provided to a large number of staff, the preparation of the P11d forms can be onerous and can result in a very heavy administration burden. This burden normally falls on the already busy HR or Finance department of the employer and must be completed within a tight deadline to avoid potentially large penalties.

SOLUTION

Drummond Laurie Chartered Accountants have built an expertise in the preparation and submission of P11d returns. For many of our clients, this removes from them a huge administration “headache”!

COSTS

We are preparing P11d forms in bulk and so we benefit greatly from economies of scale. As a result, our costs for providing this service can be extremely competitive. These are dependent on the number of staff receiving taxable benefits and on the quantity and type of benefits provided.

NEXT STEPS

Please contact our P11d co-ordinator Alastair Herbert for a no obligation quotation.       Alastair can be contacted by phone on 01324 441254 or by email at alastair.herbert@drummondlaurie.co.uk

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