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.

If your company operates an unapproved share plan for employees or directors, or they have acquired shares in the company through some other means, you have an obligation to report these events annually on a Form 42.

An opportune time to review your UK residence status