Best Accountants in Aberystwyth

If you are an employer and provide expenses or benefits to employees or directors, you might need to tell HMRC and pay tax and National Insurance on them.nnThere are different rules for what you have to report and pay depending on the type of expense or benefit that you provide. Examples of expenses and benefits include company cars, health insurance, travel and entertainment expenses, gym memberships and childcare.nnBenefits in Kind provided to employees are normally reported once a year on a P11d form to HMRC following the end of the financial year and tax. This is performed per employee who received a benefit and tax payable is calculated.nnAlternatively, you can ‘payroll’ these benefits and include them as part of your normal pay run. Following this option will require a registration with HMRC.nnIf you provide employees with benefits in kind and would like some guidance to ensure you are reporting these correctly, please get in touch.