P11D for 2022-23 is looming


Clients will have received emails from us in preparation for submitting P11Ds.

All employers must submit a separate P11D report to HMRC for each employee you’ve provided with taxable expenses or benefits that were not payrolled.  You must also submit a report for any Class 1A National Insurance you owe (a P11D(b)).  The deadline for submitting this information to HMRC is 6th July.

The list of taxable expenses or benefits is substantial, but the most common include:

  • Assets paid for by the company and transferred to the employee at no cost or below market value, for example personal items paid for using company cheques or credit cards and money not refunded to the company
  • Payments made on an employee’s behalf for example paying personal bills from the company account or with a company credit card
  • Vouchers in lieu of salary
  • Living accommodation
  • Mileage allowance in excess of the HMRC approved rates
  • Cars, vans and/or fuel provided by the company and available for private use
  • Low or interest free loans
  • Private medical or dental insurance
  • Assets the employee can use, for example holiday homes
  • Professional fees and subscriptions, although some subscriptions to professional bodies may be exempt
  • Training – only work-related training is allowable
  • Mobile phones, unless the contracts are in the company’s name

If you are unsure if any expenses are allowable or should be reported on a P11D, please contact Michelle, Siobhan, Jackie or Andrew on 01625 524127.

Castletons Accountants

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