The end of the tax year is a very stressful time for employers with a whole host of tax reporting obligations to deal with in a relatively short space of time.

Forms P11D are the bugbear of most employers with many different rules to consider depending on the type of benefit or expense to be reported to HMRC, or to decide whether an item is actually reportable on the P11D in the first place. But tax year-end is much more than P11Ds for many employers, with various other reports being due such as on termination payments, share based payments and PAYE Settlement Agreements, not forgetting all the normal payroll returns all employers have to file.

As we stated in one of our articles, the penalties for employers either making late returns or incorrect returns can be severe and really damaging to the business and this all just adds to the stresses of the finance team at this time of year.

 

What support can Optimum PAYE provide ?

The ways in which we can provide support to employers at this time of year includes:

  • Adhoc advice, e.g. in relation to specific Benefit In Kind queries
  • Review of forms P11D before these are submitted to HMRC
  • Completion of forms P11D
  • Onsite/remote assistance in reviewing source data for P11Ds
  • Form 42 assistance for share based payments e.g. reviewing source data/ preparing the form 42 for filing
  • Checking payroll related information e.g. for forms P35 & P14/P60
  • Termination reporting advice including preparation of formal report for HMRC where required
  • General "sense-checking" before any submissions are made to HMRC
  • PAYE Settlement Agreement and P11D Dispensation support - see separate page for further information
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