The deadline for filing the 2024-2025 P11D form is 6 July 2025.
As this is rapidly approaching, now is the time to ensure you have everything you need to complete a filing on time.
Ignoring this deadline could result in penalties, including a monthly fine of £100 for every 50 employees.
Why do I need to file a P11D?
The P11D is used to report benefits given by employers.
It must be submitted by the employer every year for each member of staff who receives taxable benefits and expenses.
This could include private healthcare schemes, interest-free loans, or company cars.
HM Revenue and Customs uses the P11D data to calculate the correct amount of Class 1A National Insurance Contributions (NICs) that are owed by employers.
This is why compliance is so important, as failing to submit a P11D could result in underpaying NICs and thus facing further issues.
Your P11D form must be submitted by 6 July following the previous tax year to enable all NICs to be paid by 22 July.
How to stay ahead of future P11D filings
As filing the P11D is a necessary part of doing business, it is imperative that you take measures to ensure that it does not get overlooked.
Keeping clear records of any business expenses and benefits given to employees will help to compile your P11D form next year.
Good record keeping prevents a scramble for information ahead of the filing deadline and will allow you to track the necessary expenses more effectively.
It may be worth conducting regular reviews of benefits and expenses to ensure that you are fully aware of what is being assigned to employees.
Seeking professional advice can help when working to improve record-keeping and filing accuracy.
You will need to submit a P11D form again next year, but, as of April 2027, it will be necessary to payroll benefits instead.
The P11D form may be going away soon, but your obligations to accurate financial reporting are here to stay.
We can help you maintain compliance now and in the future.
