A recent question posted to HR Zone by a member asks, ‘what on earth do I do with P11D forms’? Put simply, P11D forms need to be completed and returned to the Inland Revenue to give details of all expenses payments and the cash equivalent of any benefits provided for the following types of employees,or their families,dependants and guests:
company under the control of your organisation
P11Ds are also used to help you calculate the amount of Class 1A National Insurance Contributions that may be due on taxable benefits provided to employees. More information on P11Ds can be found on the Inland Revenue website.
Making these calculations and completing and their associated forms has never been the most attractive of tasks, but there is software you can use to make it less of an ordeal.
Software providers PTP Software Ltd offer easy-to-use, straight-forward and cost-effective software currently being used by over 4,500 firms for tax compliance and planning or for maintaining company statutory records. They have two versions available, one to produce the End of Year forms and the other to track expenses throughout the year and then produce the forms. If you’d like to get hold of a demo copy of the TaxExpense software to try it for yourself, send an e-mail to sales@ptpgroup.co.uk or call 01865 370470. PTP will also be happy to let you have a fully functional copy of the 2002 software, so that you can get started before the 2003 program is released at the end of March.
