Have you recently acquired a shareholding in, or become a director of, a non-US entity?

HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK. HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK. HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK.  HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK.HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK.HM Revenue & Customs (HMRC) have published a consultation document that proposes major changes to the taxation of partnerships in the UK.

A dispensation is a notice from HM Revenue & Customs (HMRC) that removes the requirement for an employer to report certain expenses and benefits at the end of the tax year.

Employers who have a valid P11D Dispensation Agreement must report any benefits and expenses not covered in their dispensation to HMRC on an annual basis.

Have you had a Christmas party or summer barbeque within the last tax year?  Do your staff regularly receive incentives or gifts?  If the answer is yes then you are providing taxable benefits and should have a PAYE Settlement Agreement (PSA) in place with HMRC.