Home 5 Payroll 5 Assets made available to an employee
Assets made available to an employee

Assets made available to an employee

25 January 2024

Assets for employees like computers can incur tax. No reporting for business-only office equipment. Salary sacrifice assets need reporting. Personal and business assets require a P11D form with Class 1A National Insurance. Complex value calculation based on circumstances.

Assets like computers, televisions, and bicycles provided to employees can impose tax, National Insurance, and reporting obligations. No reporting is necessary to HMRC for office equipment used exclusively for business. If assets are part of a salary sacrifice arrangement, employers usually need to report them to HMRC.

For assets used personally and for business, employers must report them on a P11D form, with Class 1A National Insurance payable on the benefit’s value. The P11D form, used by employers, lists ‘benefits in kind’ for directors or employees.

Calculating the value of a piece of equipment available to an employee becomes complex, involving various steps based on the circumstances at hand.

Source: HM Revenue & Customs Mon, 22 Jan 2024 00:00:00 +0100

You may also like these

Here are some more articles that might interest you

Expert Advice

If you’d like more information on anything you’ve read, we’re here and happy to help