Actions to take now The tax rules on Benefits In Kind (BIKs) are changing. From 6 April 2027 to 5 April 2028, Phase 1 of HMRC’s ‘Mandatory payrolling of Benefits In Kind and expenses’ comes into force. Phase 1 will apply only to company cars, car fuel, vans, van fuel and medical benefits. Mandatory […]
Many benefits will not be mandated until April 2028 Mandatory payrolling for Benefits In Kind was originally expected to start in April 2027, but following industry pressure, it will now be introduced in two phases. Phase 1 will continue to be rolled out from 6 April 2027, with Phase 2 starting a year later on
Essential payroll tasks The end of the 2025/26 tax year will soon be here, which means a few additional tasks to carry out on your payroll, if you run one. If you run a payroll, you will need to report information on the tax year that is ending to HM Revenue and Customs (HMRC).
If you’re a business owner who provides benefits or expenses to employees or directors beyond their salary—such as company cars, health insurance, or interest-free loans—then the P11D is a form you need to be familiar with. And getting it right isn’t just a matter of good record-keeping—it can have serious tax and compliance implications. What
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Running a business is a full-time job, and managing payroll on top of everything else can feel overwhelming. Payroll is not just about paying your employees; it involves intricate calculations, strict deadlines, and adherence to constantly evolving legislation. For business owners, this can be both time-consuming and stressful, particularly when trying to stay compliant with
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What is a P11D? The P11D form is used to report benefits in kind. These are items or services which you (or your employees) receive from your company in addition to your salary. Examples of expenses and benefits include: Benefits in kind effectively increase your salary, so you may need to pay National Insurance contributions on
Taxpayers given more time for voluntary National Insurance contributions The UK government has extended the voluntary National Insurance deadline to 31 July 2023 to give taxpayers more time to fill gaps in their National Insurance record and help increase the amount they receive in State Pension. This comes after members of the public voiced concern
