Expenses & Benefits
Handling UK Benefits
In the UK, you can register payroll benefits and expenses with HMRC using the online taxable benefits and expenses service. This alleviates the need for submitting a P11D form at the end of the tax year, however, a P11D form will still be necessary for the employee benefits that you put through the payroll.
You will need to make HMRC aware of any benefits you want to put through the payroll during the initial registration process. With Goodwille’s advice and expertise, we will be able to advise exactly what to place through the payroll to make the process as simple as possible.
In the UK you can payroll all benefits apart from living accommodation provided by the employer, and interest free & low interest loans.
Each employee will have a list of benefits associated to their employee profile and we will need to confirm exactly what benefits they receive, on the year end report. These benefits can be in the form of a company car, loan, pension, health insurance, travel and entertainment expenses, and childcare.
Using our integrated approach to expense management, we can provide you with a streamlined solution, so when it comes to verifying and processing expense claims, you have all the information from across the month at your convenience.
Taxable Amount of Payroll
At Goodwille, we help to take the pain out of month-end payroll for each employee. In the UK, all employees are subject to PAYE tax, so it’s imperative that this information is gathered on a monthly basis to avoid heavy administration at the end of the tax year. We gather all of your employee information to provide HMRC with the information required, directly through the payroll solution we manage on your behalf.
Reporting on Expenses & Benefits
You will need to treat the expense and benefits as though they are normal earnings on your report. Goodwille will collate all the information from your expenses for each employee and draw out a report and any outstanding services onto a P11D form, clearly outlining the expense and benefit of each claim.
As our Payroll Manager, Lisa has vast experience in payroll, customer service & business administration, Lisa is responsible for helping clients with all payroll related questions, including dealing with HMRC queries, producing payroll reports and processing payslips.