Harris & Co Accountants In Northampton Review The Approaching P11d Deadline-www.h4610.com

Taxes The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2013, are due for submission to HMRC by 6th July 2013. The process of gathering the necessary information can take some time, so employing Harris & Co accountants in Northampton can ensure that the process is not left to the last minute. P11D Deadline Approaching Employees pay tax on benefits provided as shown on the P11D, either via a PAYE coding notice adjustment or through the self assessment system. In addition, the employer has to pay Class 1A National Insurance Contributions at 13.8% on the provision of most benefits. The calculation of this liability is detailed on the P11D(b) form. HMRC have issued some guidance as to common errors on the forms in the latest Employer Bulletin. These include the following which can delay processing and cause problems with employees tax codes: Not ticking the director box if the employee is a director. Not including a description or abbreviation, where amounts are included in sections A, B, L, M or N of the form. Leaving the cash equivalent box empty where youve entered a figure in the corresponding cost to you box of a section. Not correctly completing the box in Part 5 of form P35 (Employers Annual Return) or the declaration on the final FPS/EPS submission (for those employers operating PAYE in real time) to indicate whether or not P11Ds are due. Where a benefit has been provided for mixed business and private use, entering only the value of the private-use portion you must report the full gross value of the benefit. Not completing the fuel benefit box/field where this applies. This means an amended P11D has to be sent in. Incorrectly completing the from and to dates in the Dates car was available boxes. For example entering 06/04/2012 to 05/04/2013 to indicate the car was available throughout that year. If the car was available in the previous tax year, the from box should not be completed and if the car is to be available in the next tax year, the to box should not be completed. Harris & Co Accountants In Northampton Can Help Complete Your P11D Form Correct P11D completion is complex. If you feel that you would like help with the P11D forms or the calculation of the associated Class 1A National Insurance liability, please get in touch with our team. Located in Northampton, our accountants can help you complete your forms before the July 6th deadline. If you are looking for accountants in Northampton , contact Harris & Co on 01604 660661 or email [email protected] To review the services they provide, go online to .harrisandco.biz. About the Author: 相关的主题文章: