P11D, expenses and benefitsChartered Institute of Payroll Professionals
P11D, expenses and benefits
Designed to give delegates clarity and confidence about how to process the P11D, P11Db forms, PAYE Settlement Agreements (PSA) and net to gross calculations.
The tax and NICs treatment of expense payments and Benefits In Kind (BIK) is complex, with numerous pitfalls for the unwary or unprepared.
Without exception, every year there are changes to the statutory rules which impact on employers’ systems and processes. Employers are constantly alert to controlling and reducing employment costs yet often seek to maintain or enhance the range of benefits on offer to their employees.
Whenever HMRC conducts an audit of an employer’s records, processes and systems, the inspector focuses on the payment of expenses and the provision of BIK. It is commonplace for HMRC to find discrepancies and to demand the payment of significant amounts of underpaid tax and NICs for past years. Misunderstanding the implications of the statutory requirements can prove very costly.
This course is designed to guide delegates through the complexities and statutory rules for tax and National Insurance contributions (NICs) treatment of expense payments and BIK, enabling you to appreciate the numerous challenges and common errors in calculating notional values. The course also covers the correct completion of the annual returns.
You will gain the knowledge and confidence to calculate and report the value of benefits correctly, reducing the risk of HMRC finding discrepancies that could lead to severe fines and penalties.
Suitability - Who should attend?
Individuals responsible for designing and implementing effective expenses and benefits policy, as well as completing and submitting the relevant annual returns.
Outcome / Qualification etc.
On completion, delegates should:
- Understand the general tax and NICs rules of expenses payments and BIK for employers and employees
- Comprehend the processing and recording requirements of expenses and benefits
- Confidently conduct discussions and negotiations with HMRC
- Review their employer’s expenses and benefits systems
The cost of this course is as follows:
For CIPP members: £435.60 + VAT
For non-members: £484 + VAT
CIPP can also deliver this course as customised in-house training.
The Chartered Institute of Payroll Professionals (CIPP)
Established in 1980 as an official industry body, the Chartered Institute of Payroll Professionals (CIPP) is the Chartered membership body for payroll and pensions professionals in the UK and currently has in excess of 10,000 members enjoying a range of benefits. Its education...
Chartered Institute of Payroll Professionals
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