Expenses and benefits returns on magnetic media (EEC1)
04 October 2016
4 October 2016
The guidance on how to submit returns to HMRC on magnetic media has been updated to apply to live filing submissions from 6 April 2017.
Employers and payroll bureaux have an option to submit expenses and benefits (P11D) on magnetic media to HMRC. Submitting returns this way means quick automatic processing and cuts out manual keying by HMRC. As a result employees’ tax code numbers are reviewed automatically and accurately updated quicker when compared with paper returns.