Three quick reasons to outsource P11D form production
3 minute read
Bev Da Silva
Bev Da Silva
As well as saving you time and effort, choosing to outsource the production and submission of your P11D forms by taking advantage of Ciphr’s outsourced payroll service gives you access to a wealth of knowledge and expertise
By 6 July, employers must have submitted their P11D forms to HMRC if they provide benefits in kind to employees – detailing the cash equivalents of benefits and expenses that they have provided during the tax year. The P11D form must be submitted for each employee and creating and submitting these forms can be time-consuming – which is why some organisations opt to outsource this task instead.
Outsourcing P11D production means that external experts can fill out the P11D forms and submit these to the HMRC once the employer has reviewed them. For large organisations, outsourcing P11D production means they’re not required to spend significant amounts of time filling out forms and can instead focus this time and energy elsewhere. Here are three quick benefits of choosing to outsource your P11D production.
Expertise of payroll professionals
By working with payroll professionals, organisations can gain access to a wider range of knowledge, experience, and expertise. Employers can gain a better understanding of P11D production and are less likely to worry about P11D production when they know a team of dedicated professionals are handling the process.
Outsourcing your P11D production also gives you access to a variety of reports, tailored to your needs and helping you streamline internal processes. If you outsource P11D production to the Ciphr Payroll team, for example, our payroll professionals can provide reports on Class1A national insurance contributions (NICs) and will also fill out P11D(b) forms.
Easily accessible records
P11D forms have to be filled out for each employee, and, in large organisations, this can mean a lot of records and files to keep track of. With outsourcing, all files and permanent records can be easily stored in one place. If you opt for Ciphr’s integrated payroll and HR solutions, our team will load your P11D records straight into Ciphr for you.
If you need P11D support, Ciphr’s payroll services are available to all organisations with no setup costs and little onboarding time needed. To find out more, request a meeting with one of our specialists.
This article was first published on Payrollbs.co.uk – a Ciphr Company.