Viewing 4 posts - 1 through 4 (of 4 total)
  • Tax Return – P11D expenses question
  • spacemonkey
    Free Member

    Hi all

    I’ve been filling in my online return over the last few days, and got stumped on the Employer expenses section. Basically, during 07-08 I was both self-employed (until late 07) and then fully-employed (late 07 onwards).

    The latter includes a bit for entering expenses, ideally referring to a P11D that apparently one’s employer might use. I’ve asked my finance dept and MD and their reply was “We don’t need to do P11D’s because we have dispensation to say that everything we pay in expenses is not taxable earnings.” and “There is no P11D therefore there is no need to show any expenses on your return.”

    Based on the fact I receive a car allowance + monthly expenses (mileage, sustenance, stationery, travel, etc), can I really exclude myself from filling in expenses?

    I’m guessing this makes sense in that the above are not taxable because they’re not stricly “benefits” or “earnings”.

    Any feedback would be much appreciated.

    SM

    surfer
    Free Member

    I dont think you need to do anything unless you receive less than 40p per mile for your company mileage. I used to so I claimed extra allowance other than that I also receive a car allowance and the other items you mention. Apparently they dont need to be included as tax etc is already paid on them via PAYE.
    Somebody may be along to put me right but that was my understanding.

    I dont have a p11d either but used to when I was provided with a car.

    spacemonkey
    Free Member

    Cheers Surfer

    I used to get (and still do get) 25p/mile. Naturally I claim for this every month … and you believe I should at least put mileage expenses on my return? This would be under the “general expenses thingy” as opposed to company car mileage, because I have an allowance instead?

    Hmmm

    SM

    surfer
    Free Member

    Thats what I did. I called them this morning just to talk me through that part of it. If I was you I would do the same just to be sure.

    With regard to the 25p you receive. You should be able to claim an additional 15p per mile from the HRMC (up to a max of 10000 miles for the tax year 07/08) to take you up to the the max allowable of 40p. This means at the higher tax rate you will receive circa £600 back which is better than a poke in the eye with a sharp stick!

Viewing 4 posts - 1 through 4 (of 4 total)

The topic ‘Tax Return – P11D expenses question’ is closed to new replies.

Thanks for popping by - why not stay a while?IT'S FREE

Sign up as a Singletrack Member and you can leave comments on stories, use the classified ads, and post in our forums, do quizzes and more.

Join us, join in, it’s free, and fun.