Reporting Benefits in Kind
Date:
Category:
Latest News
In the past, expenses paid on behalf of directors and employees by their employer, such as travel and subsistence expenses that are reimbursed, had to be declared to HMRC using form P11D unless the employer held a dispensation.
Note that from 2016/17 the employer will no longer need such a dispensation or to report on form P11D if the expenses are wholly, exclusively and necessarily incurred in the performance of the individuals’ duties.
Related news
Employees are no longer taxable on trivial benefits in kind, provided the cost to the employer is less than £50.
View article about Trivial Benefits in Kind are Now ExemptThe VAT Flat Rate Scheme is intended to simplify VAT accounting and reporting for small businesses, and some may even find that they pay less VAT than using normal VAT accounting.
View article about Should I Use the VAT Flat Rate Scheme for my Small Business?What our clients say






