Sarah Bradford outlines what needs to be done to meet the reporting obligations in respect of benefits and expenses provided in the 2020/21 tax year.
Any employer who provided their employees with taxable expenses and benefits in 2020/21 will have reporting obligations in relation to those benefits. The nature of those obligations will depend on whether the benefits need to be reported on form P11D or whether they have been payrolled or included within a PAYE settlement agreement (PSA).
Form P11D
Taxable benefits and expenses which have not been payrolled will need to be reported to HMRC on form P11D, unless the employer has elected to meet the tax on the employee's behalf by including the benefit or expense within a PSA. Each employee needs their own P11D.
The information required for the P11D depends on the
