The HMRC deadline for submitting any P11Ds and your P11D(b) is 6 July following the end of the tax year. Certain benefit types, such as private medical insurance and gym membership values may not be provided until after the tax year has ended. Therefore, PayFit has the functionality for you to add those benefits for the previous tax year, even after you've run your March payroll.

This feature is available if in March you indicated that:

AND

From April 2024 onwards, within certain pages of the Benefits section, you'll see the 2023/2024 tax year as an option in the drop-down in the top-right-hand corner.

This section will be available from April to June, however, you must enter your benefits information, confirm they are complete and run your payroll before 15 June, to guarantee your submission will be made by the deadline of July 6th.

For an overview of company benefits and expenses and how they're reported, please refer to this Help Centre article. Or for further information about P11Ds, please refer to this Help Centre article.

This feature allows you to add or adjust:

✅ Up to two Private Medical Insurance (PMI) schemes for the previous tax year.

✅ Gym memberships for the previous tax year.

✅ PMI or gym membership values for leavers.

✅ PMI / gym memberships in bulk.

It does not allow you to add or adjust:

❌ Any other benefit types for the previous tax year.

❌ Payrolled benefits for the previous tax year. Payrolled benefits impact the employee's taxable pay and tax paid but your payroll is now closed for the previous tax year and can't be adjusted.

❌ Employee contributions for the previous tax year. Employee contributions impact the employee's net pay but your payroll is now closed for the previous tax year and can't be adjusted.

Determine which benefits you provide to employees. The most common benefits we see on PayFit are private medical insurance, vouchers, gym membership and company cars, but there are many more. You can find an extended list of benefits here as part of HMRC guidelines.

For each benefit you provide, gather the annual values for the tax year (i.e., April 2023 to March 2024, for each employee.

Ensure you have a list of all employees who received benefits during the tax year, including leavers. You will need to reactivate or add these leavers in PayFit in the same month that you'll finalise your benefits information. This is critical to ensuring your reports and submissions are correct and that P11Ds for all employees are created when you run your payroll.

Be prepared to enter and submit your benefit values within the same month. You can choose any between March & June. However, if you choose June, you must confirm your benefits information is complete in your account, and run your payroll by 15 June, to guarantee submission to HMRC by the deadline of 6 July.

Under the Benefits & P11D submission menu option on the left, you have three steps to complete.

In the month that you choose to finalise your benefits information, you need to reactivate all leavers who received a company benefit during the tax year. If you joined PayFit part-way through the tax year, you'll need to import the details for any employees who had benefits, but left before you joined PayFit. For further information about adding or reactivating leavers, please refer to this Help Centre article.

Once your benefits are activated and all employees are available, you can complete the cost and contributions information for each employee. However, only PMI schemes and gym memberships are available to adjust in the previous tax year. To adjust these values, from the top-right, please ensure you've chosen the 2023-2024 tax year, before following the steps in the the following articles:

If you need to adjust any of the following benefit types, please contact our Support team.

Or, if you have other benefits that are not available on PayFit, please refer to this Help Centre article.

After entering your benefits information for all employees:

1. From the left, choose Report benefits in kind then by May payroll heading.

2. Next choose review benefits information, ensuring any steps prior to this have also been completed.

3. You'll now see total benefit values per employee, per benefit, and for the company. You can also view any P11Ds from this screen. Review this information.

4. Click Confirm the information.

Once you run payroll, PayFit will generate P11Ds for all your employees. Your P11Ds and P11D(b) will be submitted to HMRC by 6 July. You will be able to check the status of your submission on the app.