Common errors on P11Ds (benefit in kind returns) and Key Performance Indicators in your business

If you have a PAYE scheme you must complete form P11D(b) and notify HM Revenue & Customs whether or not any benefits have been provided to your employees in addition to their normal wages.  The definition of employee includes all directors.

The forms must be submitted to HM Revenue & Customs by the 6th July in order to avoid penalties.  If benefits have been provided, Class 1a National Insurance will be charged at 12.8% on the benefit value and this must be paid to HM Revenue & Customs by 19th July using the payslip that they will send to you separately.

Although the list is by no means exhaustive the most common areas where problems arise are as follows:

• Cars – owned or leased by the company

• Vans

• Mobile Phones

• Directors accounts/Loans

• Business assets used by an employee

• Subscriptions

• Private bills settled by the business

To help you identify some of the Key Performance Indicators in your business, A4G are running a breakfast seminar at our offices near Brands Hatch on 9th July entitled “Identifying and acting on your KPIs”. Our seminar starts at 7.45am for 8am sharp with tea / coffee and bacon rolls provided aiming to finish by 9am. If you have any questions or to book your place please email jenny@a4gsolutions.co.uk or to view our other upcoming seminars please visit http://www.a4gsolutions.co.uk/weekly-seminars/

“Making the vision clear sparks people’s passion and productivity”.

JACK WELCH