• ICAEW
  • XERO GOLD PARTNER
  • KASHFLOW

 

0161 928 3276

 

 

We understand our clients

Completing Forms P11D

Newsletter issue - June 2012.

It's time to complete forms P11D, to report expenses (which were not included in your dispensation agreement with the Tax Office) and benefits paid to your employees in 2011/12. The P11D details can be submitted online using the free HMRC software or using your own payroll software. Alternatively you can complete individual paper forms, or submit a schedule to the Tax Office containing details for all your employees. Whichever method you chose, the deadline is the same: 6 July 2012.

Be careful not to submit the same P11D details by two methods: say online and in paper form, as this will only confuse the HMRC computer!

Some other common mistakes made when completing forms P11D include:

  • Not ticking the 'director' box when required
  • Missing employee ID details such as date of birth, gender, and full name
  • Including expenses which have been covered by a dispensation
  • Incorrect calculation of benefits provided for part of the year, such as cars, vans and fuel. You should use number of days available/366 for 2011/12.
  • Restricting the list price value of a company car to £80,000. This cap has been abolished from 6 April 2011
  • Omitting the cost of accessories fitted to cars after delivery
  • Using the incorrect rate of interest for beneficial loans – it was 4% for the whole of 2011/12.

We can help you with your P11D forms, which can be quite a nightmare if you have lots of employees who received benefits or expenses.

 

To work Smarter in your Business Contact Beauchamp Charles

Contact Us

"Join our newsletter for hints, tips and tax advice"

 

What our clients say

Dakins Property Services

Great Results, Personable, High Integrity

Choice Events Limited

All at Beauchamp Charles are very helpful, approachable and easy to talk to. They keep me informed with key dates; I can feel totally confident that I won't ever miss any deadlines! Whoever I deal with, always deal with matters professionally and efficiently and if they are unavailable they get back to me promptly.

FT leisure Ltd

I have worked with Beauchamp Charles as our management accountants for over 20 years and have never received anything less than exceptional service. Their approach is both professional and personal. Finances and particularly tax strategies are a minefield for small businesses; Beauchamp Charles have in-depth knowledge of these area, which is comforting. They pay very close attention to our business activities and have provided financial strategies that have helped our company develop.

Fredrick Thomas Electrical and Maintenance

We have used Beauchamp Charles since company formation back in 1998. Beauchamp Charles offers us a one to one service as they are small enough to offer this dedicated service and large enough to do the work and offer best advice. They get to know us as individuals and a business, always giving sound advice. Frederick Thomas Electrical are in a stronger place thanks to the service we get from them.

Barnes Walker Landscapes Limited

We are a small business and had employed the same accountancy firm for many years. Two years ago we took the decision to switch to Beauchamp Charles after several othe local businesses recommended them very highly to us. We have not been disappointed with the service they have provided to us over these last two years.