The last day to report any Class 1A National Insurance Contributions (NICs) that you owe for the tax year ending 5 April 2018 is 6 July 2018.
HM Revenue & Customs (HMRC) has called on business owners to ensure that NICs are reported, as well as the completion of any P11D forms, by this date to ensure you remain compliant and avoid unwanted penalties.
The tax office has also emphasised on getting form P11D right the first time. This is because mistakes are time-consuming to correct and employees may pay the wrong amount of tax.
HMRC has detailed a full list of things you need to file online. Here’s a brief overview:
Form P11D(b) if you paid benefits and/or non-exempt expenses. Include total benefits liable to Class 1A NICs, even if you taxed some or all of them through your employees’ pay.
A P11D for each employee in receipt of benefits and/or non-exempt expenses, unless you registered online before 6 April 2017 to tax them through payroll.
If you didn’t pay any expenses or benefits, tell HMRC online here.
For more information, and to ensure you have filed everything correctly and on time, please get in touch with one of our payroll experts at Grunberg Chartered Accountants.