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Accounting for the tax free P35 filing online incentive

How do i account for the tax free P35 filing online incentive?

Please see extract from www.hmrc.gov.uk/employers/doitonline.pdf which explains how to account for the tax free payment your clients received for filing their end of year P35's online.

Accounting for the tax-free payments

Show the tax-free payments in your accounts as 'other operating income'.

The payments are not taxable, so your tax computations should show profit reduced by the payments included in your accounts.

Tax-free payments and VAT

You do not have to pay VAT on your tax-free payments for early online filing, nor do you have to show them on your return.

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0800 0523 555

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