This practical course clearly explains the rules relating to benefits in kind and expenses and how they should be applied in practice. It also guides you through the calculations that sit behind each section of the P11D return or voluntary payrolling, if you have chosen to adopt this.
The statutory rules in this area are constantly changing and it can be hard to keep up to date. The Government introduced a number of significant changes to the handling and reporting of benefits in kind, from April 2017, particularly where benefits are offered via a salary sacrifice arrangement (which now has a new name – an optional remuneration arrangement).
This course will cover both the current legislative framework and give you an insight into the future of benefits and expenses, helping you prepare for any changes ahead. In particular, the course will cover the complexities of offering benefits in kind via optional remuneration arrangements.
Attending this course will give you the confidence to know that you and your organisation are dealing with this challenging area correctly. Ultimately, it will help you avoid the costly penalties that HMRC can impose for incorrect or late P11D returns or incorrect processes that are discovered during a compliance review. HMRC have made it clear that the accurate processing of benefits and expenses is one of their key compliance focuses over the next year.
This course is ideal for anyone involved in payroll or compliance and particularly those responsible for the benefits packages within their organisation. It is also appropriate for finance team members who have to review and authorise expenses so they can identify non-compliant claims and items that need to be reported on the P11D
This course will cover the following:
- The law and deadlines that apply to expenses and benefits processing
- How to determine the appropriate treatment for a benefit or expense
- Qualifying business expenses
- Trivial benefits
- Statutory exemptions
- Candidates for a PAYE Settlement Agreement (PSA)
- Taxable and NI’able benefits reported via the P11D
- Taxable benefits reported on the P11D but NI’able through the payroll
- How to ‘payroll’ benefits in kind for tax but report Employer’s Class 1A NICs via the P11d(b) known as voluntary payrolling
- Understand the impact on the cost to employee and employer of the way that benefits are provided
- Consider the 14 sections of the P11D and the tips and traps associated with each
- Optional remuneration arrangements (the new name for salary sacrifice) and the impact that these will have for both employee and employer
