P11D. Year incurred or year paid?

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northernladuk replied

16 May 2012, 09:12
Originally posted by ittony View Post

Aha, that's easy then! Thanks.

Out of interest, if there had been a P11D reportable expense, a train trip on personal credit card which I hadn't claimed for yet for instance...?

You need to get an accountant. It sounds like he will be able to save you much more than he costs.
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Clare@InTouch replied

16 May 2012, 07:39
Originally posted by ittony View Post

Aha, that's easy then! Thanks.

Out of interest, if there had been a P11D reportable expense, a train trip on personal credit card which I hadn't claimed for yet for instance...?

The P11D now would cover the period 06/04/2011 to 05/04/2012, so if the journey was carried out in say May 2011 it would get included in the July P11D. The money would have been paid by you personally in May 2011 and would show as owing to you (Credit DLA) up until you repaid it to yourself, so the transaction took place in the 11/12 tax year.
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ittony replied

15 May 2012, 17:24
Originally posted by Clare@InTouch View Post

If you're just paying mileage, at approved rates, then it doesn't need to go on the P11D at all.

Or are you claiming for other travel?

Aha, that's easy then! Thanks.

Out of interest, if there had been a P11D reportable expense, a train trip on personal credit card which I hadn't claimed for yet for instance...?
Leave a comment:
Clare@InTouch replied

15 May 2012, 13:03
If you're just paying mileage, at approved rates, then it doesn't need to go on the P11D at all.

Or are you claiming for other travel?
Leave a comment:
ittony started a topic P11D. Year incurred or year paid?

15 May 2012, 12:34
P11D. Year incurred or year paid?

I'm just doing my P35 so need to tell them whether a P11D is to follow. I didn't claim any expenses last personal tax year, but it now occurs to me that there were a few allowable long drives it would be worth suffering a bit of paperwork for. Can I claim and settle these now, even though the expenses were incurred last last, and if so do they go down on this July's P11D?
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