Be careful to avoid penalties, firms urged

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Preston-based chartered accountants Rushtons are warning employers about potential problems they may face filling in P11D forms.

Employers are required to submit P11D forms for each employee they have provided benefits or expenses to during the tax year.

Forms must be filed by July 6, setting out the full facts of each employee and the benefit in kind they have received, together with any expenses.

However Rushtons Chartered Accountants are warning employers to ensure they can precisely establish the facts.

Angela Tranter, Tax Director at Rushtons, said: “The importance of correctly filing P11D forms should not be overlooked.

“It may seem an easy option to simply copy figures from previous years’ P11D forms if you believe nothing has changed, but this might just be storing up problems for the future.”