2010 P11D Season

It’s now time for employers to prepare the returns of benefits and expenses, forms P11D and P11D (b) for the tax year ended 5 April 2010.
The forms are required for directors or employees who are provided with benefits or for whom you pay or reimburse expenses.
To avoid late filing penalties the deadline for filing the P11D and P11D (b) with HMRC is 6 July 2010. The penalties associated with these returns can be severe, for example late filing penalties of up to £300 per P11D, plus £60 per day for continued failure.
The Class 1a National Insurance liability is due for payment by 19th July 2010 and late payment will incur interest charges.
In addition employees must be provided with a copy of their P11D by 6 July 2010.
If you would like any assistance with the preparation and submission of these forms why don’t you call Marshall Smalley and we’ll help you if we can.