Your candidates’ P11Ds
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Over the next couple of weeks, some of your candidates who work with Key Portfolio will be receiving a P11D from us. This is a form which summarises the expenses that were claimed by them and processed during the last tax year.
If a candidate receives one, it’s because we were required to send this information to HMRC and provide the contractor with a copy. They need take no action, unless they complete a Self Assessment tax return, but should retain a copy for their tax records.
If they don’t receive one, it’s because we weren’t required to send this information to HMRC. This is most likely because they earned under a certain threshold in the past year and/or we didn’t have any expenses to report for them. Some types of expenses don’t need to be reported on P11Ds, for example mileage.
How are you communicating with my candidates?
We’ll be sending P11Ds out electronically with an informative covering email on or before the 6th July. We’ve published an explanatory post over on the Key Portfolio blog, and we’ll also be tweeting about it. In addition, we’ve answered some of the more commonly asked questions in the candidate support centre.