Reply to: Confused over expense claims/P11d

[Lumiere]

If your P35 was filed declaring that no P11d was due then no worry. However if you are due to submit one the payment deadline for class 1a NICs was 19th July.

There is a MONTHLY penalty of £100.

I would check with your accountant if one was due.

Thanks Sally.

The accountant insists there is no need to submit one at all, as there were no BIK expenses.

(but I paid lots of travel expenses from my personal cards during the year - was eventually reimbursed by the company)

[SallyPlanIT]

What is the deadline for P11D filling, just wandering why my accountant hasn't asked me yet to provide my expenses records for 09/10 tax year ?

If your P35 was filed declaring that no P11d was due then no worry. However if you are due to submit one the payment deadline for class 1a NICs was 19th July.

There is a MONTHLY penalty of £100.

I would check with your accountant if one was due.

[kingcook]

If you add an expense to section N of the P11D then it shouldn't be taxable, therefore no need to add it to your tax return.

Ermmmm..... why does it say "Taxable payment" at the top of the 3rd column in section N then?

Where does it say (on HMRC's website or elsewhere) that expenses added to section N of the P11D shouldn't be taxable?

I am curious as i have just received my first P11D from an umbrella company.

[SackmanandCo]

we've never had a dispensation refused from any of our clients

[Clare@InTouch]

Thanks for the tip, I read about these but always thought they were for larger companies with complex expense logging systems.
I use Freeagent for all of my accounts and expenses, but I still needed to produce a complicated excel pivot table to capture my many hundreds of expense accounts and categories - took me a full day to sort it all out.

A small company can still get a dispensation, but it may be more difficult. One of the requirements of gaining a dispensation is that you have an independent system in place for checking the amounts being claimed - as a one man limited company this is more difficult to prove, especially if your accountant is not checking the receipts either.

HMRC may also not give a dispensation covering everything - they may allow it for entertainment, but not for subsistence for example. Overall, this wouldn't save a huge amount of time as you'd still have to do your analysis.

HM Revenue & Customs: Dispensations

[CheeseSlice]

dispensations are really useful- saves on admin and can apply on line. HMRC will nearly always accept them

Thanks for the tip, I read about these but always thought they were for larger companies with complex expense logging systems.
I use Freeagent for all of my accounts and expenses, but I still needed to produce a complicated excel pivot table to capture my many hundreds of expense accounts and categories - took me a full day to sort it all out.

[Clare@InTouch]

I have never been able to work out where on the self assessment form you can offset the taxable benefit (when there is none) after adding the P11d details.
It always seems to want to tax me more when I add the P11d details even though they were all legitimate expenses.

If you add an expense to section N of the P11D then it shouldn't be taxable, therefore no need to add it to your tax return.

HMRC will often deduct it from your tax code, but it's simply a case of calling them and asking them to remove the incorrect adjustment.

[Sausage Surprise]

I have never been able to work out where on the self assessment form you can offset the taxable benefit (when there is none) after adding the P11d details.
It always seems to want to tax me more when I add the P11d details even though they were all legitimate expenses.

[zedAccounts]

My company has a dispensation and I have not submitted a P11D ever.

ZED.

[SackmanandCo]

dispensations are really useful- saves on admin and can apply on line. HMRC will nearly always accept them

[diesel]

When Brooksons were my accountants they used to prepare a P11d letter and form each year.

however, new accountant recommends i dont need to do this, and gave me words for a letter to HMRC requsting Dispensation from P11d, which they granted.
Cant remember all the justification, but something around its not a BIK such a company car hence dispensation requested.

[SackmanandCo]

6th july

[Lumiere]

What is the deadline for P11D filling, just wandering why my accountant hasn't asked me yet to provide my expenses records for 09/10 tax year ?

[Clare@InTouch]

Technically it does need to go on P11d but you can apply for a dispensation to avoid the paperwork. HMRC do actually encourage this.

The point of a dispensation is to allow you to not declare non-taxable items. With a mobile phone this would only be the case if the business were purely paying for identifiable business calls, not if it were paying the whole bill.

HM Revenue & Customs: Telephones - mobile

[SackmanandCo]

Technically it does need to go on P11d but you can apply for a dispensation to avoid the paperwork. HMRC do actually encourage this.