2023/24 expenses and benefits/employment related securities deadlines 

Do you complete expenses and benefits returns? Or do you complete online filing for employment related securities? If so, you have a key role to play in ensuring returns are submitted by the 2023/24 filing deadline of 6 July 2024 and payments are made on time. By way of reminder, from 6 April 2023, forms P11D and P11D(b) can only be submitted online by employers (except for the digitally excluded). Also, since 6 April 2023, an online service is available for employers and their agents to apply for a PAYE Settlement Agreement (“PSA”). The 2023/24 deadline to apply for a PAYE settlement agreement is 5 July 2024, with payments due by 22 October 2024 (19 October 2024 if not paying electronically). 

HMRC is running a webinar later this week on 27 June on how to use the PAYE online service to submit forms P11D and P11D(b). The webinar will provide an overview of these forms, examine the benefits of submitting them online, and consider payrolling of expenses and benefits. However, it will not cover how to calculate the value of benefits. You can book onto the webinar here. 

It should also be noted that where Enterprise Management Incentive (“EMI”) options are granted on or after 6 April 2024, although the statutory reporting deadline is 6 July following the end of the tax year, some plan rules require the employer to notify HMRC within 92 days of grant. If this is the case, failure to report within the deadline can lead to the option lapsing or becoming non-tax advantaged. We recommend that employers check any EMI plans urgently to ensure this deadline is not missed.  

Here’s a reminder of the key deadlines next month: 

• 6 July 2024 - deadline for submitting all 2023/24 P11D(b) and P11D forms - and the employee must receive their copy of the P11D; 

• 6 July 2024 – deadline for online reporting of the 2023/24 annual return in respect of employment related securities; 

• 19 July 2024 - deadline for non-electronic payment of Class 1A National Insurance Contributions (NIC) for 2023/24; and 

• 22 July 2024 - deadline for electronic payment of Class 1A NIC for 2023/24.