PKF Offers UK Employers Help With Expenses Return

by Amanda Banks, Tax-News.com, London

18 April 2006

UK advisory firm PKF has launched the 2006/07 edition of its P11D software, designed to ease the burden for business of preparing P11D forms and help them avoid penalties of up to £3,000 per form.

P11D forms report details of expense payments and benefits provided to employees and must be completed and submitted to HM Revenue & Customs (HMRC) by 6 July each year. Penalties of up to £300 per late P11D await those who miss the deadline, whilst further penalties, of up to £3,000 per return, can be imposed for incorrect forms.

Jim Greenfield, PKF’s IT Director said: “Collating the necessary information to complete the P11D forms is hard enough, but the complex rules for the tax treatment of expenses and benefits make compiling the forms extremely tricky and time consuming.

“Our P11D software simplifies this task for thousands of employers and accountants by recording and collating all employee expenses and benefits, and solving the complicated calculations required. It even allows you to submit returns online, direct to HRMC, thus dramatically improving accuracy and reducing the time wasted.”

PKF says it is the only mid tier firm to offer P11D software and has done so for ten years.

Each year the annual return of employee expenses and benefits to HMRC becomes more complicated, says the firm. In recent years there has been the extension of employers’ Class 1A national insurance liability and continual changes to the calculations for loans, cars and other types of benefit. In 2005 HMRC introduced the option of file by internet which is fully supported by the PKF software.

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