Expenses, benefits, and employment related securities deadlines imminent, 22 June 2020

Jun 22, 2020

Do you complete expenses and benefits returns? Or do you complete online filing for employment related securities? If so, you have an important role to play in ensuring returns are submitted and payments made on time. There is no change to these deadlines due to the pandemic; HMRC is encouraging filing and payment on time where possible. However, see our news story on the acceptance of the pandemic as a reasonable excuse for late filing and payment. 

Here’s a reminder of the forthcoming deadlines:  

  • 6 July 2020 - deadline for submitting all 2019/20 P11D(b) and P11D forms - and the employee must receive their copy of the P11D. (HMRC’s Expenses and Benefits from Employment toolkit can help with this; 

  • 6 July 2020 – deadline for online reporting of 2019/20 annual return in respect of employment related securities; 

  • 19 July 2020 - deadline for non-electronic payment of Class 1A National Insurance (NIC) for 2019/20; 

  • 22 July 2020 - deadline for electronic payment of Class 1A NIC for 2019/20. 

To save on administration, don’t forget to consider PAYE Settlement Agreements, where relevant.  

HMRC has also published online versions of form P11D(b). The purpose of form P11D(b) is to report Class 1A NIC on expenses and benefits-in-kind and to declare that forms P11D have been submitted to HMRC. Employers who payroll all benefits-in-kind and so do not need to submit forms P11D must nevertheless submit form P11D(b) to report their Class 1A NIC liability to HMRC.  

6 July is also the reporting deadline for share schemes. HMRC has recently published new guidance on the impact of the pandemic on share schemes in the latest Employment Related Securities Bulletin