p11d time

[richy]

Hi,

I'm working for a ltd company as director.

I'm claiming expenses like hotel, mileage, subsistence, to be reimbursed to me personally while working away with clients.

My question is as there hasn't been any "benefit" do I still need to complete the p11d?

If I do need to complete it,

http://www.hmrc.gov.uk/guidance/p11dguide.pdf

I thought it was only employee loans, gifts or paying employee's children school fees etc.

So does everything need to be put down? or just the amount above a certain amount?
Cheers, Jon

[AlanR]

490

Richy,

The HMRC document 480(2009) Expenses and benefits explains the tax law relating to expenses payments and benefits recieved by Directors. Chapter 8 which covers Travelling & Subsistance claims directs the reader to the 490 document which can be downloaded from here.

The 480 document gives quite good guidance on what needs to be included on a P11D and what doesn't so may be worth while having a look at that as well.

Alan

[Bob Jones]

As you are a company director all payments have to be accounted for - if the payments are for expenses incurred then, with the exception of the 40p/25p per mile for allowable business travel, they must be declared on form P11D. In addition you must remember to declare the expenses as payments received on your personal tax return and, on the assumption that the expenses are genuinely allowable, you need to claim them as such on the same form. All of this could be deemed a waste of time if there is no benefit - everything cancels each other out in which case you need to apply for a dispensation - this will dispense with all the work , however, as you are a director of the company and in a controlling position HMRC may not be over keen...

Bob

[EchoSierra]

From the 480 Booklet p13:

Purchases on employer’s behalf

Businesses are often run in such a way that employees make payments on their employer’s behalf. For example, an employee may buy stamps, stationary and items of equipment for the employer and be reimbursed the costs incurred from petty cash or by cheque. Such transactions are not providing the employee with either earnings or expenses because the employee has received no money of his own. Accordingly such reimbursements do not feature on the P11D.