I am based in the UK and as such, I am required to report my tax affairs to HMRC.
I am currently completed a P11D Form (End of Year Expenses and Benefits Forms 2017-18) and I have come across the terms:
- Cost to you or Amount Forgone (£)
- Amount made good or from which tax deducted (£)
- Taxable payment or Relevant Amount (£)
What exactly do these mean? I have all of my Expenses details to hand but not sure what goes into each box so to speak. I can see that
Taxable payment or Relevant Amount (£) auto populates, based on the other two's entries.
Any help, on this matter, would be greatly appreciated.