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Where Taxpayers and Advisers Meet

P11D

JKPOLYMERS
Posts:4
Joined:Wed May 30, 2018 7:06 pm
P11D

Postby JKPOLYMERS » Sun Jun 10, 2018 12:57 pm

Hi There,

I'm wondering how a P11D works, I'm not good at understanding stuff like this and am seeking advice from those on this forum.
Currently looking at taking a business lease on a Range Rover Vogue or BMW M5 but will use it for personal use as well, I'm note sure how this works.

Would it be better leasing privately or via the company?
Will I personally have tax to pay? How will it work?

Thanks

JRG
Posts:424
Joined:Wed Feb 03, 2010 4:40 pm

Re: P11D

Postby JRG » Thu Jun 14, 2018 1:03 am

A P11D is a document produced by an employer that details the cost of items/services supplied by the employer for the benefit of the employee, such as medical insurance, commuter season ticket, etc. The employee is responsible for including such costs in their self assessment tax return, which will be included in their overall income total and will be taxed accordingly.


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