TaxAssist Accountants
0800 0523 5550800 0523 555

Fines for businesses that have not returned P11D(b) forms

Date: 16th July 2008

Small business owners yet to return their P11D(b) forms could now face fines from HM Revenue & Customs (HMRC).

HMRC revealed that it had started issuing penalty notices on July 14th where its records indicated that employers had not yet returned their P11D(b) forms for the financial year running in 2006 and 2007.

It explained that the fines follow similar penalties issued in November 2007 and March 2008. The latest fine will be £100 per 50 employees for each month that the return is outstanding between March 7th and July 6th.

A statement from HMRC added: "If you receive a penalty notice that you believe has been issued in error, you can appeal by writing within 30 days to the office named on the notice.

"Your letter should state your reasons for thinking that the penalty is incorrect."

According to HMRC, the P11D(b) form is used at the end of each tax year for businesses to report "the total value of the expenses and benefits attracting Class 1A National Insurance contributions (NICs) that [they] provided to [their] employees" and the amount of Class 1A NICs liability.


Related Articles



0800 0523 555 TaxAssist Accountants Locations Map
TaxAssist Facebook TaxAssist Twitter TaxAssist Blog RSS

Newsletter for Small Business

Join our newsletter and receive tax news every month suitable for small businesses.

Testimonials

View all

Over the past 10 years we believed that if we wanted outstanding service we should use traditional large accountancy firms. Oh how wrong we had been! We had been charged high fees without any real value being added to the business.
DAVE THOMAS
Bluegrass Consultancy Ltd

© 2012 TaxAssist Accountants. All Rights Reserved. TaxAssist Accountants Buy Local Campaign TaxAssist Accountants Supports Round Table Childrens Wish TaxAssist Accountants - Interactive Media Awards 2010 Best In Class Winner