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When and why do expenses paid by credit card need to be declared separately?
The P11D return of expenses and benefits has a separate section for payments made by credit card as against all other forms.
I have always been entirely mystified by it; the requirement to report the expenditure met by credit card seems to be wholly in conflict with the requirement of the P11D generally to report expenditure by categorisation.
The credit card is merely a convenient means of settling a bill; what does it matter by what means a bill is paid? Moreover there is no benefit to an employee in merely holding a company credit card.
HMRC appear to recognise the issue at least to some extent by referring to excluding expenses “more appropriately” reported elsewhere in the form but that does not fully resolve the underlying conundrum.
It has always seemed to me that as long as the expenses and benefits are reported correctly by categorisation...
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