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July P11D Filing Deadline Still Applies – We can help
Over the last few months we have seen the introduction of unprecedented measures to ease the financial and regulatory burden on businesses. There are some areas however where the old rules still apply.
HMRC has confirmed that the normal 6 July deadline for filing of your P11Ds and P11D(b) must be observed. Payment of the associated Class 1A National Insurance also has to reach HMRC by 19th July if it is a cheque payment or 22nd July if electronic payment. Penalties and interest will be charged if either of these deadlines are missed.
Preparation of P11Ds is often time consuming, and it can be difficult to fit this into your normal monthly accounts routine. This year we have the added complication of the work coinciding with the reopening of dealerships, and perhaps adoption of new systems to cope with altered business operating practices.
Even if you normally administer reporting of benefits in kind within your internal accounts team, you may need to consider external assistance as a one-off.
ASE provides a full P11D and car averaging calculation service and are available to help with either quick queries or the complete preparation of the returns.
We also recommend that if cashflow is tight and you think you won’t be able to pay the National Insurance liability on time, HMRC should be approached at an early stage to agree a Time to Pay arrangement. As the request relates to circumstances arising from Covid 19, we would advise using the special Covid 19 support line instead of the usual helpline. Full details can be found here https://www.gov.uk/government/organisations/hm-revenue-customs/contact/coronavirus-covid-19-helpline. Again if you need any assistance with this, please let us know.
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