Do I need to submit P11d?

[dollybird66]

I have a Ltd Company of which I am Director and I work as a contractor.

I pay for my travelcard directly from the company (via company debit card) and I use this only to get to my temporary place of work and obviously would have no need for a travelcard except to get to work and back (I have a car for private use).

I am confused as to whether I need to fill in a P11d. My accountant says it is not necessary as it is a business expense but I just wanted this confirmed.

Thanks.

 

[jon.jenkins@smartaccounta]

I would agree with your accountant in this instance. If the travel expenses have been paid directly from your business account then they are not a reimbursement of expenses and do not need to go on a P11D.

In order to double check there is nothing that you are missing I would also double check the P11D checklist by Googling P11D Guide (2012) and checking there is nothing on the list that may contribute to you needing to process a P11D.



Hope this helps.

 

[vic1959]

If an employee has to travel on business and pays for the train fare etc out of their own account and then gets reimbursed by the company, would a P11d be required?

 

[jon.jenkins@smartaccounta]

Yes. As annoying as it is this would need to be declared on a P11D which would incur no tax charge on the individual or national insurance for the business as it is simply a reimbursement of costs incurred. I know a form to HMRC to tell them you do not owe any money ridiculous isn't it.

In these cases you can apply for a dispensation from HMRC about not having to report certain types of expenses. You cannot get a dispensation for everything but you would for what has been outlined. If you Google P11DX it is the first form that appears.

Do not forget that you cannot claim a dispensation for something you have not previously entered on a P11D so if you want to claim a dispensation you will at least once have to submit a P11D covering those expense types.

I would also seek professional advice should you decide to go down this route as P11D's and dispensations are a minefield.

 

[vic1959]

thank you for your prompt reply

 

[jon.jenkins@smartaccounta]

No problem hope it was helpful. Have a good weekend