P11D
Employee Benefits
Employers often provide various benefits to their employees and directors, which can be a valuable part of an overall remunaration package. However, reporting these benefits accurately is crucial to ensure compliance with HM Revenue & Customs (HMRC) regulations.
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P11D is used for this purpose, and it must be completed and submitted annually for each person receiving benefits. Finova Accountancy can assist with the submission of P11D forms, ensuring compliance and accurate reporting of all taxable benefits. This helps you avoid errors and potential penalties, giving you peace of mind that your submissions meet all HMRC requirements.
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Benefits provided to employees and directors must be included on the form. Benefits in kind are benefits that employees and directors receive which are not included in their salary or wages. These benefits, or rewards, are sometimes taxable and taxable benefits are known as benefits in kind.
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Typical benefits included, but are not limited to, the following:
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Company Car and/or Fuel
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Company Vans (provided for personal use)
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Private Medical Insurance
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Gym membership
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Employer loans over £10,000 (no/low interest charged)
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Professional and Private memberships
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Assets provided to an employee with significant personal use
value of the benefit is included on the form, along with the tax paid. HMRC will review the form to check that the correct amount of tax has been paid. HMRC can also use the updated information and values to calculate an individual’s tax code for the following year.
Changes from April 2026
From April 2026, it will be mandatory to report employment benefits and pay Class 1A National Insurance Contributions (NIC) through payroll software. These changes from
HMRC will remove the need for employers to submit forms P11D to HMRC and pay Class 1A NIC separately. Partner with us and we can guide you through the changes.
why choose us
​expert compliance
Our in-depth knowledge of HMRC regulations ensures that your P11D forms are prepared with precision and are fully compliant. This reduces the risk of errors and potential penalties, giving you confidence that your submissions meet all legal requirements.
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time savings
Let our experts manage the complex and time-consuming task of P11D submissions, freeing up your valuable time. By outsourcing this responsibility, you can focus on your core business activities and strategic goals without getting bogged down in administrative tasks.
accurate benefit reporting
We ensure that all taxable benefits are reported correctly, avoiding the pitfalls of underpayment or overpayment of taxes. Our meticulous approach helps you maintain accurate financial records and avoid potential tax issues.
enhanced accuracy
Our professional expertise ensures meticulous attention to detail in preparing P11D forms. We focus on accuracy to prevent costly mistakes that could result in fines or audits, safeguarding your business’s financial integrity.
peace of mind
With our experienced professionals handling your P11D submissions, you can rest easy knowing that everything is managed effectively and in compliance with regulations. This gives you peace of mind and allows you to concentrate on growing your business.
up-to-date tax codes
We assist in keeping employee tax codes accurately updated based on the latest benefit information. This ensures that all tax-related adjustments are made in a timely manner, reflecting any changes in taxable benefits. ​
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future-proofing
Prepare for future regulatory changes, such as the mandatory reporting of benefits through payroll software starting April 2026. Our services include staying ahead of these changes and ensuring your business is ready to adapt to new compliance requirements.
ongoing support
Receive continuous support and expert advice to keep your business informed and compliant with all HMRC requirements. We provide ongoing assistance to address any questions or issues that may arise, ensuring your business remains on track.
financial efficiency
Benefit from potential tax savings through our expert advice and accurate reporting of benefits. Our thorough approach helps optimise your financial efficiency and identify opportunities for tax savings.
With Finova Accountancy managing your P11D submissions, you can concentrate on growing your business while we handle the intricacies of compliance and reporting, providing continuous guidance and support. Contact us today to discuss how we can assist you and ensure your P11D submissions are accurate and stress-free.