Your legal requirements as a business are, at times, comprehensive and time-consuming. It is critical you adhere to legislation, but to ensure you get it right is the tricky part. All businesses must submit information, by law, about benefits and expenses that are given to staff. Benefits such as medical insurance, company cars and accommodation must be declared to HMRC at the end of each tax year. Failure to do so comes at a costly price. This declaration is performed through the completion of P11D forms, but make this a less laborious task by installing Sage 50 P11D software to handle this for you.
Make the process simple and stress-free by utilising a software module that manages every aspect of your employees’ taxable benefits. With Sage 50 P11D, submitting your forms to the Inland Revenue is quick and simple. Ensure you are HMRC-approved and have the peace of mind to know that your tax returns are within the law.
Sage 50 P11D is essentially for the single user and provides a means of managing your employee’s taxable benefits without any in-depth expertise in this area. Let the software do all the work for you, with in-built facilities that are conducive with HMRC processes and guidelines. The software includes the latest legislation so that you can be sure that the information you submit is accurate.
Information can be processed in quick fashion; little prior training in the use of Sage 50 P11D is required and you will soon realise the true potential of it as a key tool. Sage 50 P11D has outstanding integration capabilities with other Sage products, particularly Sage 50 HR and Sage 50 Payroll, making sure that your P11D forms are completed accurately and successfully, whilst conforming to personnel and tax legislature.
Enhanced version, Sage 50 P11D Professional supports more than one user, whilst offering additional features for processing more complex information.
Sage 50 P11D/ Professional Features and Benefits that work for you
Choose Sage P11D if:
You want to be confident that you are adhering to HMRC regulations
You want to handle taxable benefits and expenses successfully
You want to handle this remit yourself, saving yourself outlays for an in-house tax expert
You want to reduce the sum of time spent submitting your forms
You want to reduce paperwork by doing away with complicated worksheets
You want to avoid penalties for submitting late or incorrect information
You want to ensure information is secure and kept confidential
You want full compliance with current tax legislation to be certain you are operating within the law
You want full integration with Sage 50 Payroll and Sage 50 Accounts as well as Microsoft Excel and Word – as systems you may well have in place already
You want a user-friendly format with help functions in-built
You want functions to manage external medical insurance groups, national insurance validation and audit trails
You want the ability to file online direct to HRMC
You want the ability to back-up your data and ensure that it is safe and secure
You want the ability to generate Inland Revenue-approved P11D, P9D and P11D(b) forms, Class 1a Reports
You want to know all mandatory fields within forms to complete,so as to be compliant to the Inland Revenue
You want the ability to view and pull through previous years’ data, to save on re-keying employee information
You want the ability to utilise override calculation features to enable you to key in your own benefit charges/changes
You want a secure storage facility for all data, in one place and with immediate access
You want all essential staff details to be instantaneously available so as to complete self-assessment tax returns
You want an enhanced search engine that can save you time in finding employee/employer details efficiently
You want an intuitive and in-depth online Help that offers a user guide that answers your questions and queries
Choose Sage P11D Professional if, as well as the above:
You want a system suitable for multi-users, thus cutting time in processing information by sharing the workload and resources available to do this
You want a batch processing feature for quickness and efficiency
You want greater functionality in analysis to allow a more detailed view at specific information
You want to ‘design‘ reports according to report content and appearance
For more information, please contact ibex.