What is a P11d Tax Form?

Posted 2nd June 2023

In Tax

A P11D Tax form is a tax form used by employers in the United Kingdom to report benefits in kind provided to employees. Benefits in kind are non-cash payments or items that are provided to employees in addition to their salary. Common examples of benefits in kind include company cars, private healthcare, and free meals.

Employers are required to complete a P11D tax form for each employee who receives benefits in kind. The P11D form must be submitted to HM Revenue and Customs (HMRC) by the end of the tax year.

The P11D tax form includes information on the type of benefit, the value of the benefit, and the employee’s tax code. HMRC uses this information to calculate the amount of tax that the employee owes on their benefits.

The following taxes are paid on the values reported on a P11D tax form:

Income tax: Income tax is paid on the value of all benefits in kind, except for those that are exempt. The amount of income tax that is due depends on the employee’s income and tax band.
National Insurance contributions: National Insurance contributions are paid on the value of most benefits in kind, except for those that are exempt. The amount of National Insurance contributions that is due depends on the employee’s earnings.

Employees who receive benefits in kind should keep a copy of their P11D tax form for their records. The P11D form can be used to calculate the amount of tax that is due when filing a self-assessment tax return.

Here are some tips for employers when completing a P11D tax form:

Make sure that you have all of the information that you need before you start completing the form. This includes the employee’s name, address, date of birth, and tax code.
Be sure to include the correct value for each benefit. The value of the benefit can be found in the HMRC guide to P11Ds.

Here are some tips for employees who receive benefits in kind:

Make sure that you receive a copy of your P11D tax form from your employer.
Keep a copy of your P11D tax form for your records.

Here are the deadlines for the 2022-2023 tax year:

Filing deadline: 6 July 2023
Payment deadline: 22 July 2023

If you file your P11D form late, you may be subject to a penalty. The amount of the penalty depends on how late you are.

If you pay your taxes late, you may be subject to interest and penalties. The amount of interest and penalties depends on how late you are and how much you owe.

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