A new twist in the HMRC P11D/expenses cockup

[Lumiere]

Why submit one if you have no BIK. Was there ever a case of HMRC issuing a penalty for no P11D etc where there is no BIK ?

[TheCyclingProgrammer]

Why submit one if you have no BIK. Was there ever a case of HMRC issuing a penalty for no P11D etc where there is no BIK ?

No idea, but if you don't have a dispensation, then expense payments that aren't exempt such as business travel and telephone etc. are supposed to be reported on the P11D as they are strictly treated as taxable payments from YourCo. You have to claim relief through your self-assessment for no tax to be due.

So, as far as HMRC are concerned, the figure on Box N is liable to tax until you tell them otherwise when you fill out your SAR. It's silly, but those are the rules. As you can see from the above posts, I got a dispensation so I no longer need to put them on my P11D.

[barrydidit]

Savings income at higher rates is dividends. It happens a lot, and you just have to call HMRC and explain you file a tax return and it will be dealt with then - they do it all the time and it's infuriating as it's an absolute waste of my time correcting them every year. But that's HMRC for you!

Ah-ha! I've just received a "savings income at higher rate" deduction for about £6k now my return has been submitted. Never seen that before (or an adjustment for rental income for that matter) I'll give them a bell next week.... Thanks Claire