Fecked up P11d

[Sockpuppet]

Just noticed a mistake on my P11d. Basically I forgot to add an amount made good to its so its showing £~800 of taxable benefits. Should probably check items more carefully before submitting them - anyway mistake learnt.

So the options are:

a) Put it on my Self Assessment and take the tax hit and take that as a lesson to check things and take up my accountants offer of doing them in the future.

b) Leave it off as they were genuine business expenses and therefore not taxable but run the risk of P11d not matching my Self Assessment.

c) Amend my P11d and go in the face of my policy of "flying under the radar" and do option b.


I know I don't want to do it but I think option a) might be the best bet. What's the penalty for illegally overpaying tax.

[northernladuk]

You are dead to us Mr Sockpuppet!

[Sockpuppet]

Ok maybe I haven't fecked it up. Seems i did listen to my accountant and sent a letter claiming Section 336 ITEPA relief or something like this. Which means although I'm showing a taxable payment I don't have to put in the self assesment or similar.

[Craig at Nixon Williams]

In this case the figure reported on the P11d should also be reported on the self-assessment (if the figures don't match then HMRC may make an enquiry into your self-assessment). However if the expenses which are on the P11d are expenses related to your employment then there is a seperate box on the self-assessment where these values should be entered - by doing this it will reduce the taxable benefit back to zero.

The section 336 claim that has been made with the P11d just stops the benefit from being deducted from your tax code, it does not dispsnse with the need for it to be shown on the self-assessment.

[Sockpuppet]

Aye, I worked this out in the end. Was not a case of I'd done it wrong more I though I'd done in wrong. Looked at my old Self assessments and seen how I'd done it on them I didn't check the second box in the employment section to Yes so although I'd added the figures from my P11d I couldn't find the box/page to make the balancing so the tax went away. Spoke to accountant in the morning and she put me right.

Serves me right for doing my Self Assessment late at night.