With the 2025/26 tax year well underway, it’s easy to forget that some of last year’s reporting obligations are still hanging over us. One of the most important? Submitting your P11D forms for the 2024/25 tax year by 6 July.
With the deadline now a little over two weeks away, we hope your reporting process is well in hand. But, if it’s rather crept up on you, we’ve put together a quick refresher on what’s required, who it applies to and what happens if you miss the deadline.
What is the P11D?
The P11D is a form that employers must submit to HMRC annually for each member of staff that receives certain benefits and expenses which are considered taxable by HMRC. This enables HMRC to review the employee’s tax affairs for the previous tax year to check that they have paid the right amount of tax. You are now only able to submit the P11D online – filing the form by paper is no longer an option. Alongside the P11D, you must submit the P11D(b) form to calculate the Class 1A national insurance contributions that you owe for certain benefits. The benefits reported on the P11D can vary between healthcare benefits, cycle-to-work schemes, company cars and workplace pensions, amongst other things. A full A-to-Z list is available from gov.uk which covers all the various expenses and benefits along with their tax reporting requirements. *Important note* If you tax your employees on their benefits with their monthly or weekly pay, then you do not need to record the benefits on a P11D form. However, you will still need to let your accountant know so that they can calculate the Class 1A NIC on the benefits in kind.
Preparing for the deadline
Your employees also have a duty to review the information provided on the P11D form, and to let you know of any errors in the submission as soon as possible. It is your obligation to provide a copy of the P11D form ahead of the deadline on 6th July, so that employees have adequate time to review effectively.
What happens if I submit my form late?
There are penalties for late P11D submissions, and HMRC will fine you £100 per 50 employees for each month that it is late, with the potential of further fines if the issue is not resolved. Not only that but, if inaccuracies are found in your submission, both you and your employees could be penalised.
What happens next?
Following the submission of your P11D forms, you have until 22nd July to pay your Class 1A National Insurance (or until 19th July if paying by cheque).
How can we help?
If you have any queries about the P11D deadline, please do not hesitate to get in touch at tax@haroldsharp.co.uk or give us a call on 0161 905 1616.