Expenses and benefits from employment toolkit released by HMRC

24 December 2021

Her Majesty’s Revenue and Customs (HMRC) has released the latest toolkit for tax agents and advisers to assist in completing year end forms (P11D and P11D(b)) and record keeping for the coming year.

The toolkit gives explanations of benefit and expense rules and risks, asking questions to help assess where tax and National Insurance (NI) liabilities are due. Its use is not mandatory, it is an assistive tool and entirely voluntary.

The questions are based on HMRC’s view on how tax law is applied, it would therefore be very useful to utilise this tool for your record keeping. This will ensure you can demonstrate that your year end expense and benefits forms are accurate in line with HMRC’s guidance. 

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