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Sam
Sam, Accountant
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HI SAM. I HAVE A COMPANY CREDIT CARD. I USE IT TO SETTLE

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HI SAM. I HAVE A COMPANY CREDIT CARD. I USE IT TO SETTLE MATERIALS SUPPLIERS, DIESEL FOR THE COMPANY VAN AND OFFICE STATIONERY COSTS. I ALSO USE IT FOR PERSONAL EXPENSE - COSTS ARE DEDUCTED FROM MY DIRECTORS LOAN ACCOUNT. DO I NEED TO REPORT ANY OF THIS ON A P11D?

Hello,


I'm Lindie, and I’m a moderator for this topic. I sent your requested professional a message to follow up with you here, when they are back online.

If I can help further, please let me know. Thank you for your continued patience.

Best,

Lindie~Moderator

Hi

 

Thanks for your question

 

Yes you do, and then along with the P11d submission you also need to make a S336 claim, to ask for all those expenses that have arisen 100% for business purposes, be not charged on you for tax purposes

 

Thanks

 

Sam

Customer: replied 3 years ago.

Hi Sam. I apologise for clarifying as I am getting conflicting information.


Do all of the costs incurred above - even those that are personal and not business, need to go on the P11D? The personal expenses are recorded as directors loan expenses and set against my loan account which is in credit.

Hi

 

Yes - as that is the correct procedure for dealing with expenses arising and ALL expenses are subject to being advised to HMRC on form P11d - (of course this is if your salary is more than £8500 a year) regardless on where the DLA comes into play.

 

Thanks

 

Sam

Sam, Accountant
Category: UK Tax
Satisfied Customers: 13704
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Capital Gains, CIS ask for Sam Tax
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