P11D services
Running a company and employing staff means you have huge responsibilities. Paying your employees the correct amount, on time, every time, is just a small part of a much bigger picture.
In addition to the annual reporting requirements of running a payroll you must also consider if you need to submit HMRC forms P11D on your employees’ behalf. These forms are needed if you provide any of your employees with benefits in kind alongside their annual salaries.
P11D forms have to be prepared for all directors - with very few exceptions - and any employees who earn more than £8,500 pa, including expenses and benefits.
These form P11Ds must be prepared for each year ending 5 April and penalties apply if these forms are not submitted on time or are inaccurate.
You should ask yourself these questions:
- Are you a director of your company?
- Do any of your employees earn more than £8,500 pa?
- Do you know what needs to be included on a form P11D?
If you answer ‘Yes’ to any of the above, we can help.
What Modina can do for you
At Modina we ease the burden placed on you every year and make it easy for you to be in control of your P11D forms and returns.
At Modina we:
- Undertake preparation of forms P11D and submit them to HMRC for you
- Calculate the Class 1A NIC liability due in advance of the due date, and also prepare the Section 198 claims for expenses included on the forms P11D
- Help with any queries raised by H M Revenue & Customs on the forms P11D submitted and correspond with them on your behalf
- Apply to the revenue to obtain a dispensation for certain expense payments that, once obtained, will no longer need to be included on the forms P11D. We will apply to the revenue for you to put a dispensation in place wherever possible.
