If an employee or a director has received any benefits in kind for the PAYE year ended 5 April 2015, then a form P11D is due to be submitted by 6 July 2015. Examples of benefits in kind are free health insurance, free housing or accommodation, any loan to the employee or director and the provision of a company car.
If an employee or director has received any payments to reimburse expenses, then this also needs to be reported on form P11D.
Often the Revenue will already have been told just after 6 April that no P11D is due. Usually it is companies who provide a range of benefits to their directors and owners who need to submit P11D returns.
Any Form 42 is also due to be submitted by 6 July. This gives details of share-related payments to employees. This is a rare type of return.
David Porthouse & Co are accountants in Carlisle serving clients in Cumbria and North-West England. We have a major interest in new technology and we are developing an optical number recognition/datepoint system for scanning bank statements with the intention of reducing the cost of accounts preparation. We also have a spreadsheet system which can be e-mailed back and forth between the accountant and the client.