Despite the coronavirus lockdowns HMRC still expect P11d forms reporting expenses and benefits to be submitted by the normal 6 July deadline.

Remember that reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively and necessarily in the performance of the employee’s duties. Dispensations from reporting are no longer required, although HMRC would expect internal controls to be in place.

Note also that trivial benefits of no more than £50 provided to employees need not be reported. This typically covers gifts to employees at Christmas and on their birthdays.

From discussing your accountancy/payroll needs, right through to cryptocurrency, tax planning, buy-to-let properties, selling or purchasing a business or considering your business exit strategy… We would be happy to help.

Your 45-min phone call with Partner, Riz Akhtar FCCA ACMA CGMA, aims to provide you with knowledgable and professional advice coupled with years of expertise