Pro-Taxman

P11ds

Taxable Benefits

Employers have until 6 July 2020 to tell HMRC about taxable benefits and expenses provided to employees in 2019/20. Find out more…

Reporting expenses and benefits for 2019/20 Employers who provided taxable expenses and benefits to employees in 2019/20 need to tell HMRC about them by 6 July 2020, if they have not opted to tax them via the payroll. Non-payrolled taxable expenses and benefits are reported to HMRC on form P11D. Employers must also file a …

Employers have until 6 July 2020 to tell HMRC about taxable benefits and expenses provided to employees in 2019/20. Find out more… Read More »

There are five conditions that need to be met to get the tax benefits of a pool car.

When is a car a pool car? Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and have a number of cars available for use by employees when they need to undertake a business journey. From a tax perspective, provided that certain conditions are met, no benefit …

There are five conditions that need to be met to get the tax benefits of a pool car. Read More »

A quick summary of the new tax bands for CO2 car emissions which will be introduced from April next year:

Are low emissions cars tax efficient? Significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price, including the full value of any accessories. This figure is then multiplied …

A quick summary of the new tax bands for CO2 car emissions which will be introduced from April next year: Read More »

PAYE settlement agreements

A PAYE Settlement Agreement (PSA) enables the employer to pay the tax and National Insurance instead of the employee on those benefits and expenses included within the PSA. This can be useful to preserve the beneficial nature of the benefit, for example in respect of a Christmas or other function falling outside the associated exemption, …

PAYE settlement agreements Read More »

Reporting expenses and benefits for 2018/19

Where employees were provided with taxable benefits and expenses in 2018/19, these must be notified to HMRC. The reporting requirements depend on whether the benefits were payrolled or not. Benefits not payrolled Taxable benefits that were not payrolled in 2018/19 must be reported to HMRC on form P11D. There is no need to include benefits …

Reporting expenses and benefits for 2018/19 Read More »