Platinum One Payroll Service
If you already use Platinum One Payroll to manage how you pay your employees, utilise our P11D Service to create an all-round payroll package.
A P11D (Expenses and Benefits) form has to be prepared for each director and employee who receive “benefits in kind”. There are also reporting requirements on P11Ds for a few items that have no net benefit in kind. A P11D(b) is a summary of your P11D’s, showing the total of Class 1A National Insurance Contribution due to HM Revenue & Customs from your company.
P11D forms have to be prepared for each financial year end ( 5 April ) with a submission deadline of 6 July. There are strict and potentially punitive penalties imposed by HM Revenue & Customs for the late submission or incorrect completion of the forms.
At Platinum One Payroll, we offer a full PAYE Health Check Service of your payroll and expenses. As part of your health check we carry out a full review to assess items such as whether it is beneficial to offer company cars, salary sacrifice advice and expenses systems analysis and consultancy, for both employees and employers.
Our P11D Service includes:
Preparation of the P11D and P11D(b) forms and submission to HM Revenue & Customs.
Calculation of Class 1A National Insurance arising and advice on payment dates.
Advice and assistance with regard to identifying benefits to be included on P11D forms.
Assistance with queries raised by HM Revenue & Customs on P11D forms submitted.
Advising where a benefit in kind leads to a Class 1 National Insurance liability.