Using technology to help improve compliance and reduce the administration burden of end of year reporting.
The removal of dispensations and introduction of optional remuneration arrangements have increased the complexity of expense and benefit reporting for employers. As we move towards online filing of statutory returns, employers are increasingly looking for technology solutions that automate as much of the process as possible.
A summary of key compliance dates for the 2019/20 tax year and an overview of recent employment tax changes to expenses and benefits reporting can be found in our Employment Tax Key Dates.
So, what does this mean for you? It is important that your end of year procedures are robust enough to identify benefits and expenses and report these on the correct return, so that tax and NIC is paid at the correct rate and on time to HMRC.
To facilitate and support your payroll and HR processes KPMG have developed technology to help improve compliance and reduce the administration burden of end of year reporting.
KPMG’s P11D Solutions software automates the reporting of employee benefits in kind data into forms P11D for online submission to HMRC. Forms P11D can be distributed to employees by email or we can facilitate online access through our Employee Portal. Key features include:
Alternatively, you can outsource your P11D preparation to our team who can tailor support according to your needs.
KPMG’s data analytics engine categorises large volumes of employee expense data using pre-defined rules for quick and efficient reporting to HMRC. This provides a clear audit trail for PAYE Settlement Agreement (PSA) reporting, HMRC enquiries, and SAO reporting.
We offer a range of PSA preparation and filing services that can be tailored to meet your needs:
For more information about how we can help with your end of year compliance, please refer to the attached material. If you wish to discuss further then please contact Caroline Laffey, Partner of Tax and People Services, or your usual Employment Solutions specialist.
© 2020 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.