P11D - clarification on resolved thread?

Question

As this topic is “resolved” I can’t comment further but I need to make one point to everyone about forms P11D ….

http://uk.answers.yahoo.com/question/?qid=20080620070835AAPXxH2

Referring to the need for employees to declare P11D figures the comment is made that “ ….as an employee you wouldn't need to declare it, the company would have to do that at the end of the tax year on a P11d”.

Without an HMRC dispensation this remark is wrong or, at best, only half right.

The legal obligations are that the employer must prepare/complete and file forms P11D for all relevant staff.

The employer is then required to give a copy of that form – or the information on it – to the individual employees concerned.

Those employees MUST then declare that information on their own personal self assessment Tax Returns.

The employees should also make expenses deduction claims, as appropriate, to ensure they don’t pay tax on any “non-taxable” P11D figures.

Answer 1

A little over-zealous perhaps?!

Just thought you;d like to know you can comment on resolved questions by clicking on 'comment'.

And your comments also assume everyone fills in a self-assessment tax return. You forget that the majority of us are just not earning enough to do so! The normal route for these thing is as follows:

The company must declare benefits on P11D (P9D if employee earns less than £8,500) and submit to HMRC by 6 July that year. Employee gets a copy and should declare if incorrect. If employee was taxed incorrectly in their P11D benefits HMRC will adjust their tax code for the tax ytear beginning 12 months after the end of the one in which the employee was taxed incorrectly.