As the 6th July 2024 deadline for filing P11D and P11D(b) forms rapidly approaches, ensuring your submissions are timely and accurate is crucial to avoid hefty penalties.
Thorne Widgery is here to assist you through this process with an informative video led by our very own Daniel Crowther.
Understanding P11D forms
P11D forms are used to report benefits and expenses provided to employees and directors that are not put through payroll.
These forms must be filed by employers for each employee receiving the benefits, and a P11D(b) form must also be submitted to declare the overall amount of Class 1A National Insurance contributions due on these benefits.
With the deadline looming, our expert, Daniel Crowther, has created a concise video that breaks down the complexities of P11D and P11D(b) forms, offering clear, actionable guidance that can help you:
- Understand what needs to be reported on the P11D forms.
- Identify common pitfalls and how to avoid them.
- Ensure accurate calculation of Class 1A National Insurance contributions.
- Navigate the submission process smoothly and efficiently.
It’s important to remember that late submissions of P11D forms attract penalties of £100 for every 50 employees per month, which can accumulate and result in significant financial costs.
Don’t miss out on this valuable advice as you prepare your P11D submissions. The insights offered by Daniel Crowther can save you time and protect you from penalties.
Click below to watch the video and get ahead of the deadline.
