forms involeved in acca t9 f6 and there after

8/8/2019 Forms Involeved in ACCA T9 F6 and There After

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Form P45: When new employee join you, they will provide you form P45. When any employeeleaves you, you are obliged to provide him P45 form.

Form P46: If you new employee doesn't have a precious Form P45, you'll have to completeForm P46 for him.

Form P60: For each employee who was working with you at 5th April, you have to issue a form

P60. This form shows employee's pay and tax for the whole year.

Form P9(T), P9X: These forms are related to PAYE and provide tax codes for employees to be

used in tax year.

Form P7X: If budget requires any change to be made in tax codes, this form is used to make

those changes.

Form P11: Form P11 is used for each employee for proper details keeping of pay and

deductions throughout the year.

Form P14: For each employee, employer need to complete Form P14. This form must reach

HMR & C as late as 19th May.

Form P35: This form is used to provide details of all of your employees, stating amounts of

salary, Income Tax and NIC.

P45

You get a P45 from your employer when you stop working for them. It's a record of your pay

and the tax that's been deducted from it so far in the tax year. It shows:

y your tax code and PAYE (Pay As You Earn) reference numbery your National Insurance numbery your leaving datey your earnings in the tax yeary how much tax was deducted from your earnings

A P45 has four parts - Part 1, Part 1A, Part 2 and Part 3. Your employer sends Part 1 to HMRC

and gives you the other three. When you start a new job, or claim Jobseeker's Allowance, yougive Part 2 and Part 3 to your new employer or to the Jobcentre. You keep the remaining one -

Part 1A for your own records.

Your employer should automatically give you a P45 when you stop working for them. If not, askfor it - you're entitled to it by law.


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P60

Your P60 is the summary of your pay and the tax that's been deducted from it in the tax year.

Your employer should give you a P60 to keep as a record at the end of every tax year (which

runs from 6 April to 5 April the next year). If your employer doesn't give you a P60 at the end ofthe tax year, ask for it - you're entitled to it by law if you are still working for the employer at 5April.

You might need it:

y to complete a Self Assessment tax return, if this applies to youy to claim back any tax you've overpaidy to apply for tax credits

You may also need it as proof of your income if you apply for a loan or a mortgage - so it's

important to keep all your P60s safe.

P11D

Your employer uses a P11D to tell HMRC about the value of any 'benefits in kind' they've given

you during the tax year. This means benefits or expenses that effectively increase your income,like:

y a company cary private medical insurancey interest free loans

Your employer will only declare them if you've earned at least 8,500 in the year, including thevalue of the benefits. They will work out how much each benefit is worth, record it on the form

and send it to HMRC. They'll also give you a copy, which you'll need for your records or if youcomplete a tax return.

If you apply for a loan or mortgage, banks and building societies will accept a P11D as proof of

extra income

P11DThe P11D is a statutory form required by HMRC from UK based employers detailing the cash

equivalents of benefits and expenses that they have provided during the tax year to theirdirectors, and employees earning at the rate of more than 8,500 per year.

Most corporate clients use the P11D Organiserto process and submit their benefits & expenses

information to HMRC.


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P11Ds can be submitted to HMRC in either hard copy or an electronic submission format.

There are currently 14 sections on the P11D:

y Section A Assets Transferredy

Section B Payments made on behalf of the employeey Section C Credit Cards and vouchersy Section D Living Accommodationy Section E Mileage Allowancesy Section F Cars and car fuely Section G Company Vansy Section H Beneficial Loansy Section I Medical Healthy Section J Qualifying Relocation Paymentsy Section K Services Suppliedy Section L Assets placed at employees disposaly

Section M Other Itemsy Section N Expenses Payments

Any benefits that attract Class 1A National Insurance contributions are reportable in browncoloured boxes on the form.

forms involeved in acca t9 f6 and there after

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