Tax Update (June 2009)
Quarterly Reporting of Company Car Changes
As part of its efforts to reduce the administrative burden of
reporting HM Revenue & Customs (HMRC) have changed the
reporting requirements for company cars. From April 2009 only cars
provided or removed from employees will need to be reported on the
quarterly P46 (Car) return. You will no longer need to report where
one car is replaced by another. Your first reporting under this
change is due on or before 5 July.
The full information will still have to be reported as part of
P11D submissions. It is estimated that this will save employers
time and reduce their administrative burden by £1 million per
annum.