Benefits and Expenses Reporting

With the introduction of Self Assessment in the 1996/97 tax year, employers are required to calculate cash equivalent values of benefits provided to employees. They then have to perform the £8500 test to decide whether it is appropriate to return a P11D or a P9D to their local HMRC PAYE office by 6th July following the end of the tax year in which the benefit/expense was provided.

Employers also have to provide copy information to their employees of the information sent to HMRC by the same date. This is so the employee can use the copy of their benefits information to complete their Self Assessment Tax return if they were in receipt of one.

Employers have to submit the P11D by 6th July and pay over the resulting National Insurance Contributions by 19th July following.

Finally employers are required to report changes to company car allocations to employees on a quarterly basis using the P46 (car) form.