How to reduce the administration burden of P11D and make savings with one easy solution

Choose a CBS Car Scheme

Tags: Automotive Taxation

Nobody enjoys the administration burden of reporting P11D expenses and Benefit-in-Kind (BIK) tax. It’s an important task to keep on top of, but it can be tedious and time-consuming.

With this year’s deadline of 6 July fast approaching, P11D forms will be high on the agenda for a lot of businesses. In the future, do you want to reduce the hassle and save resource time by reducing the P11D reporting that’s required? We can provide a solution to make the process a little easier.

Reduce reporting and recording
With a CBS Car Scheme, P11D reporting is significantly reduced or in some cases can be removed. Reducing the administrative burden of having to complete a form for every employee can free up resources that can be better spent elsewhere. This can save time and improve efficiency.

Additionally, for businesses with average banding tiers for an existing fleet, the requirement for recording each individual vehicle an employee has driven throughout the year can be removed with a CBS Car Scheme.

Generate savings to help offset the impact of rising living costs
A solution from CBS removes BIK tax for your employees and Class 1A National Insurance Contributions (NICs) for you. Therefore, a CBS Car Scheme not only lowers the administration burden, it can create monetary savings too. These can be enjoyed by the business or passed onto employees. This year, benefits recorded on employees’ P11D will cost you more due to the National Insurance increase from 13.8% to 15.05%.

Manage the benefit level
A CBS Car Scheme offers a more affordable way for your employees to drive a brand new vehicle, compared to traditional company cars. This means you can manage the benefit level for your employees.

Choosing a solution from CBS, where the BIK tax is removed, gives your employees more freedom when choosing their vehicles. There will be fewer limitations on the types of cars employees can drive because they will be more affordable. You can fulfil your corporate and social responsibility, and you can choose to reward certain management tiers with more luxurious or practical cars. This is a great way to ensure your employees feel valued, rewarded and motivated, and can also act as a recruitment and retention tool for your business.

Tell us your P11D frustrations and let us deliver the best car benefit solution for your business.

Get in touch

Contact Details

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400 Bolton Road,
Bury, BL8 2DA

Monday - Friday

8:30 - 17:30