Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


P11D Confusion ??

StrantonaStrantona New MemberRegistered Posts: 14
P11D's?? can anyone let me know if when a one man band limited company pays for an expence ie stationery or an over night accomodation then is reinbursed the same amount of money or put in Directors current account to be paid back later, do you have to put this on a P11d so that the company then pays National Insurance, i think this is un fair as there has been no benefit ??? so why does the company have to pay this ni???

WHAT WOULD HAPPEN IF THE ONE MAN BAND WRITES A COMPANY CHEQUE SURELY THIS DOESNT HAVE TO GO ON p11D ???

Comments

  • sloshedsloshed Well-Known Registered Posts: 100
    The expenses go onto section N of the P11D which is not subject to N.I. The director then claims this back on his personal tax return as expenses necessary in the perfomance of his duties.

    The effect is that there is no benefit.
Sign In or Register to comment.