P11Ds AND ANNUAL REPORTING SEASON

摘要

With the P11D preparation season now well behind us, this might be a useful time to review how well systems coped with the process and consider whether payrolling of benefits might be less costly in administration time and effort. As a reminder, employers can now account for the tax on benefits in kind through PAYE each pay day, but in order to do so they must register with HMRC before the start of the tax year. Registering before 5 April 2018 means the employer can payroll benefits from 6 April 2018, with 2017/18 P11 Ds being the last full set of P11 Ds required.