P11D Avoidance Question

[LisaContractorUmbrella]

Thanks for the responses - I can do the P11D.

Take a rain check on engaging an accountant tho!

Can we all come and watch when you explain everything to HMR&C - I could do with a good laugh!

[Podgy]

Lol - me & hmrc are like that X

[Old Greg]

Thanks for the responses - I can do the P11D.

Take a rain check on engaging an accountant tho!

From what you've said are you sure you need to bother with the P11D?

[Podgy]

From what you've said are you sure you need to bother with the P11D?

Having now read about 100 hmrc documents on it - it seems I do.

Although I'm not sure how to list the company car dates? I bought the car in October 2010 but did'nt register for payroll until November 2011. Hmrc told me as I was not registered for payroll I did nt have to submit a P11D but to do it on end-of year self-assessment. So now that I'm on the payroll what is the date I should put that the car was made available?

I dont want to get stung for any penalties if I backdate?

[NickNick]

Don't want to sound like a broken record here, but get an accountant to do it for you.

[Podgy]

Don't want to sound like a broken record here, but get an accountant to do it for you.

Dont want to repeat being a broken record but I dont want an accountant I want to do it myself - I'm a control freak!

[Nixon Williams]

Having now read about 100 hmrc documents on it - it seems I do.

Although I'm not sure how to list the company car dates? I bought the car in October 2010 but did'nt register for payroll until November 2011. Hmrc told me as I was not registered for payroll I did nt have to submit a P11D but to do it on end-of year self-assessment. So now that I'm on the payroll what is the date I should put that the car was made available?

I dont want to get stung for any penalties if I backdate?

I would echo the suggestions of discussing this with your accountant, but from what you have stated I would comment as follows:

1. You say "I" bought the car - do you mean that or did the company buy the car? If the company does not own the car then it cannot be a company car and likewise no car expenses should be claimed from the company.

2. If you did have a taxable benefit from October 2010, then you should have submitted a P11d & a P11d(b) for 2010/11 & 2011/12. Penalties will be due on these as they are late.

3. The company should pay class 1a NIC payments based on the benefit in kind value of the car, these are due by 22nd July after each tax year.

Alan

[LisaContractorUmbrella]

Dont want to repeat being a broken record but I dont want an accountant I want to do it myself - I'm a control freak!

Then why are you picking the brains of the experts on here?

[northernladuk]

Dont want to repeat being a broken record but I dont want an accountant I want to do it myself - I'm a control freak!

Even when it appears you are incapable of doing a good job of it. That sounds ridiculous to me.

Remember even when you have an accountant you are ultimately responsible for your accounts, you still have to check go through with a fine toothed comb so can still do it yourself without the f'k ups.

[Podgy]

I would echo the suggestions of discussing this with your accountant, but from what you have stated I would comment as follows:

1. You say "I" bought the car - do you mean that or did the company buy the car? If the company does not own the car then it cannot be a company car and likewise no car expenses should be claimed from the company.

2. If you did have a taxable benefit from October 2010, then you should have submitted a P11d & a P11d(b) for 2010/11 & 2011/12. Penalties will be due on these as they are late.

3. The company should pay class 1a NIC payments based on the benefit in kind value of the car, these are due by 22nd July after each tax year.

Alan

No.2 Are you saying that a P11D etc should be submitted even though no wages are being taken and no PAYE is operated? how would that be possible - without any PAYE ref? i.e. if the company is dormant?