Understanding UK P11D

Hi!

This is my first completed tax year in the UK and am trying to understand what my P11D is telling me - Google search results all seem to be geared towards employers. I have items in sections "Interest-free and low interest loans" and "Private medical treatment or insurance."

What do the columns "Cost to you" and "Cash equivalent" mean and what's the implication on how much money I owe to HMRC? Does receiving the P11D mean HMRC will automatically send me a tax return to complete or will I need to initiate the self-assessment myself?

Many thanks!

I was just working on my own self assessment return and I came across mention of P11D.

It's in the employment pages (which would make sense!) SA102.

The form and instructions are here. It might help you to take a look if you haven't already found this.

https://www.gov.uk/government/publications/self-assessment-employment-sa102

The employment pages are additional to the main tax return SA100.

https://www.gov.uk/government/publications/self-assessment-tax-return-sa100

If HMRC were going to send a tax return to you, I suspect you would have received it by now, I've had mine since pretty near the turn of the tax year.

What I suggest you do is give HMRC a call to clarify. You should try at the beginning of the day or else the wait time is awful.

https://www.gov.uk/government/organisations/hm-revenue-customs/contact/self-assessment

Oh, and UK tax returns are much, much, more straight forward than US ones.

Thanks, I'll give Her Majesty a ring!

Cheers