p11d and expenses as yet unpaid

spencergate · Jul 5, 2010

Can anyone answser this quick question for me please?

Director of a Ltd company has put in claims over the year 2009-10 for some expenses. Some of these were paid, but to ease pressures on cash flow, he hasn't taken payment for them.

Currently the outstanding amount sits in the accounts as a loan from the director.

What should appear on the P11d? I'm pretty sure it should be the amount that the company has actually paid him?

David Griffiths · Jul 5, 2010

But if it's credited to the loan account the company effectively has paid him. I think that the expenses should be included.

spencergate · Jul 5, 2010

David Griffiths said:
But if it's credited to the loan account the company effectively has paid him. I think that the expenses should be included.

Hmm I see your point. Any other opinions either way ?

elaine@cheapaccounting · Jul 5, 2010

spencergate said:
Hmm I see your point. Any other opinions either way ?

I agree with David - he is often correct

spencergate · Jul 5, 2010

elainec100 said:
I agree with David - he is often correct

I know, he has given much sage (as in wise, no reference to trading name intended) advice on here in the past .

Ok, that makes the job simpler. Thanks guys

TheAccountancyOffice · Jul 5, 2010

Most definitely considered as paid if credited to the Directors Loan account - even if cash not physically paid out from the bank.

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p11d and expenses as yet unpaid

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