Our website uses cookies to enhance the visitor experience (what's a cookieCookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.). Are you happy for us to use cookies during your visits?
Please note: continuing without making a choice equates to giving us your consent, which you can withdraw at any time via our cookies policy page.

Client Area Client Area

Magnify

Accounting, Taxation and Business Advisers

Call us today: 0118 405 6000 (Local Rate)

Request a Callback

Book a Free Consultation

Get a Fixed Quote

Find out how to Make more, Keep more and Work less

Want to pay less tax?

Newsletter Sign up

What size is your
business?

We know you love your business regardless of it's size, so let us offer you sound financial advice

  • Start-up
  • Small Business
  • Medium Business
  • Large Business

P11D Forms and Dispensations

Newsletter issue - May 09.

It's time to start work on those tiresome forms P11D to report expenses and benefits paid to employees and directors in the year to 5 April 2009. The deadline for submitting the forms to the Tax Office, and for giving copies to your employees, is 6 July 2009.

If you have a dispensation for business expenses in place with your local Tax Office your life is made easier, as expenses falling in the categories specified in the dispensation can be left off the P11D forms. However, taxable benefits such as company cars or accommodation must be reported and the taxable benefit calculated.

Most reportable business expenses consist of travel and subsistence costs. In the past the Taxman has been happy to include the cost of tickets in a dispensation, but he would rarely agree to a flat allowance to cover meals. Now the Taxman has proposed a scale rate of tax free payments for meals taken while travelling in the UK after 6 April 2009 with the following conditions:

  • Breakfast - £5 - Starting earlier than usual and leaves home early before 6am.
  • One meal - £5 - Away from home or office for 5 hours or more.
  • Two meals - £10 - Away from home or office for 10 hours or more.
  • Evening meal - £15 - Working later than usual and finish after 8pm.

These rates only apply where the employer has agreed to stick to the scale rates within his dispensation agreement with the Tax Office. This is another good reason for getting a dispensation in place, or updating the one you have.

Please contact us if you need help with P11D's or dispensation claims.

 

  • Share on Facebook
  • Share on LinkedIn
  • Share on Twitter
  • Email this page to a friend