P11D
Business & Finance abbreviation · Tax
| Stands for | Return of expenses and benefits (Form P11D) |
|---|---|
| Categories | Business & Finance |
P11D stands for Return of expenses and benefits (Form P11D), a tax abbreviation.
UK form employers file by July 6 to report taxable benefits in kind provided to employees, such as company cars, private medical insurance and interest-free loans. Employees pay income tax on the benefits, usually through a tax code adjustment.
Example: The company car shows up on my P11D, so my tax code was cut.
Usage notes
Employers also pay Class 1A National Insurance on reported benefits. Many employers instead "payroll" benefits, taxing them each payday, and the government plans to make this mandatory.
Related abbreviations
More tax abbreviations
- NIC – National Insurance contributions
- NIIT – Net investment income tax
- NOL – Net operating loss
- OASDI – Old-Age, Survivors, and Disability Insurance
- OIC – Offer in compromise
- OSS – One-Stop Shop
- P45 – Details of employee leaving work (Form P45)
- P60 – End of Year Certificate (Form P60)
- PAN – Permanent Account Number
- PAYE – Pay As You Earn
- PST – Provincial sales tax
- PTC – Premium tax credit