Expenses & Benefits
Handling UK Expenses & Benefits
As an employer, you might need to report any expenses or benefits you provide to employees. You may also need to pay tax and National Insurance on them.
In the UK, if you’re intending to payroll benefits and expenses, you need to register them with HMRC using the online taxable benefits and expenses service. You must do this before the start of the tax year. With Goodwille’s advice and expertise, we will be able to advise you, to help make the process as simple as possible.
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. Expenses do not have to be processed along with payroll so can be paid outside and at any selected date. You must keep a record of benefits you give throughout the tax year so that you can accurately report and submit your P11D(b) and the Class 1A National Insurance contributions payment. This must be done by 6 July after the end of the tax year.
Reporting on Expenses & Benefits
There are different rules for what you have to report and pay depending on the type of expense or benefit that you provide. These rules can be quite complex to understand, our Payroll team can assist you with the process and the reporting to HMRC.
In the UK you can payroll all benefits apart from living accommodation provided by the employer, and interest free & low interest loans. You will need to make HMRC aware of any benefits you want to put through the payroll during the initial registration process.
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.