A form P11D is required for each employee or director who is in receipt of taxable benefits in kind that are not put through payroll. Benefits include the provision of a company car or van, medical insurance, low interest or interest free loans and more.
The deadline for submitting these forms to HMRC is 6 July 2022 and each individual must be provided with their form P11D by this date as well. Significant penalties can be imposed for late submission and further penalties can be imposed for the submission of an incorrect form.
If you would like to learn more about potential taxable benefits or would like our assistance in preparing these forms, please get in touch as soon as possible to ensure a timely submission.