What if the P11D is wrong?

Produced by a Tolley Employment Tax expert

Employment Tax

Guidance

Calculating the value of benefits to be reported on P11Ds is not a simple exercise and mistakes do come up. This guidance note will help you if an error is discovered.

The action to be taken when an error is discovered depends on whether the error is found before or after submission to HMRC.

An incorrect entry may be seen by HMRC as an indicator for ‘employer education’ which may take the form of a compliance visit (see PAYE57335). However in practice, P11D corrections are commonplace, especially for large employers. Often large amounts of data must be processed in a short time frame to meet P11D deadlines, with the inevitable risk of human or data error. In most cases, any mistake identified should therefore simply be corrected as quickly as possible and on a ‘matter of fact’ basis.

For more, see Simon’s Taxes E8.819.

Errors discovered prior to submission

Ideally, errors should be corrected before submission to HMRC so that no issues other than the internal work of correcting them will be necessary. If

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Employment Tax

Loans provided to employees

Loans provided to employeesEmployers sometimes provide their employees with loans, sometimes charging interest and often not, either as part of the reward package or to help the individual meet significant expenditure. For example, it is common to provide loans for the purchase of annual travel

14 Jul 2020 12:11 | Produced by Tolley Read more

Owner-Managed Businesses

Relief for employee share schemes

Relief for employee share schemesRemuneration expenses are generally deductible for corporation tax purposes as they are considered to be incurred wholly and exclusively for the purposes of the trade. However, expenses relating to shares are usually classed as capital and are therefore not

14 Jul 2020 13:21 | Produced by Tolley Read more

Corporation Tax

Overseas property businesses for companies

Overseas property businesses for companiesOverviewReal estate income is generally taxed where the property is located; the UK tax treaties generally allow the jurisdiction where the land is located to tax income from the land.Therefore, a UK company with overseas property may be subject to tax in

14 Jul 2020 12:22 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more

��˾��ҹ��