Expenses and benefits: assets made available to an employee
What to report and pay
If the asset is not exempt, you must report it to HM Revenue and Customs (HMRC) and may have to pay National Insurance on it.
Assets for business use only
Some expenses relating to assets for business use are covered by exemptions (which have replaced dispensations). This means you will not have to include them in your end-of-year reports.
If you do not have an exemption, you must report on form P11D. You do not have to deduct or pay any tax or National Insurance.
Assets for personal and business use
You must:
- report on form P11D
- pay Class 1A National Insurance on the value of the benefit