Quick Poll results: 49% of companies use P11Ds to report taxable benefits
22 April 2021
The CIPP’s latest Quick Poll addressed which process businesses use to report taxable benefits – do they use P11Ds, do they payroll benefits or do they use a combination of both?
The results highlighted that 49% of companies use the legacy process of submitting P11Ds to both employees and HMRC in relation to taxable benefits. 20% of respondents confirmed that they have chosen to process taxable benefits through the payroll in real time, whilst 31% stated that they use a combination of both.
The predominant reason for employers using a combination of both methods is because not all benefits can be processed via payroll. Elements such as employer-provided living accommodation and interest-free and low-interest loans cannot be processed via payroll, and still need to be recorded on P11Ds.
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