What do I do if I’ve got my P11D figures wrong?

Realising you have got your P11D figures wrong can be daunting. However, there are steps you can take to rectify errors and ensure compliance with HMRC regulations.

Changes in Filing Rules

HMRC implemented significant changes to the filing and amendment process for P11D forms back on 6th April 2023. These changes represent a fundamental shift in how businesses submit their P11D information.

One of the most significant changes is the requirement for all P11D submissions, including amendments, to be made electronically. This move away from paper-based submissions necessitates a thorough understanding of the new electronic filing procedures.

Understanding the Process

If your organisation handles P11D forms in-house, adapting to the new electronic filing requirements is essential. Accessing the business’ HMRC government gateway is now a crucial step in submitting and amending P11D returns.

Making Amends

When it comes to making amendments, it’s vital to approach the process with diligence. You must complete the P11D forms in full, rather than simply submitting corrections for incorrect details. The complexity of this process varies depending on the types of benefits offered and the nature of the mistakes.

Seeking Professional Assistance

Navigating the intricacies of P11D amendments can be challenging, particularly for those unfamiliar with the process. If you find yourself unsure how to proceed or would benefit from expert guidance, please remember there are experts out there (like us!) who would be happy to help.

How We Can Assist You

So, if you’ve discovered errors in your P11D figures or need assistance with filing amendments, don’t hesitate to reach out. Our team of experts can provide the support and advice you need to navigate the process effectively, ensuring compliance and accuracy in your P11D submissions.