P11d expenses
System
Posts: 100,534 🤖 Admin 🤖
Can someone tell me what happens with p11d expenses.
If for example an employee was reimbursed 500.00 for travellling expenses this would go on the p11d, but this is also an allowable expense so is this deduction also shown on the p11d?
If for example an employee was reimbursed 500.00 for travellling expenses this would go on the p11d, but this is also an allowable expense so is this deduction also shown on the p11d?
0
Comments
-
Re:P11d expenses
Hi The expense side of the P11d is declared on the individuals tax return under a s336 claim.
0 -
Re:P11d expenses
Hi
I thought P11d were end of year statements showing 'benefits in kind' so to speak, nothing to do with 'expenses'.£500 for travelling expenses is just reimbursing the employee for their out of pocket expenses.....so long as you have the documentation to show this of course! In my mind - no, they are definately not on the P11d.
0 -
Re:P11d expenses
You are right in thinking that in theory the income would go on the P11D as a benefit in kind, and that the expense incurred would be deducted as an allowable expenses.
However even HMRC realise that this is a lot of time and effort for something that has a NIL effect.
Therefore the company can apply for a 'dispensation' which means that reimburesed business expenses are not put on a P11D at all - saving time and effort all round0