A P60 is pretty much the most important tax document for people in long term employment.
But what is it? Why do you need it? And, most importantly, how to get a P60?
What is a P60?
A P60 is a tax document that you are legally entitled to and which your employer(s) issues you with each tax year.
It contains all the information about your income over the years, your pensions payments, and how much tax you’ve paid.
You should receive one from your employer, as long as you are still employed by them at the beginning of the tax year (April 6).
Why do I need a P60?
P60s are needed for several important things including:
If you want to apply or renew tax credits.
If you’d like to claim a tax rebate.
To complete your self assessment tax return, if you are self employed.
How do I get a copy of my P60?
You shouldn’t need to do anything. Your employer should automatically send you your P60 at the end of each tax year, and you should receive it by April or May (deadline is on 31 May).
2. If you have lost it… No problem. Your employer is required by law to keep records of all their P60s for three years, so you can ask for another copy from them.
3. If you’re about to start a new job/have just left your old one. Then you don’t need a P60, but a P45. Info on what it is and how to get it is on this guide.
It might be a good idea, if you have a secure place to view and print documents, to ask for your P60 electronically. Electronic P60s have been available since 2011, and you can give your employer permission to use this much harder-to-lose method of getting your P60.
Frequently asked questions
P60s are made for the whole tax year, so you should receive it soon after a tax year finishes at the beginning of April.
Some banks ask for P60s for loans and mortgages, but most will also accept having your last three payslips and bank statements as proof of your financial situation.
You always need to be able to prove to HMRC that you have paid the right amount of tax, so they are pretty important. You may also need them as proof of paying too much or too little tax. Other than that, they are important for these reasons:
If you want to apply or renew tax credits
If you’d like to claim a tax rebate
To complete your self-assessment tax return, if you are self-employed.
No, P60s need to come from your employer, who is required by law to keep records of P60s for three years. If you need proof of tax from before three years ago, you can contact HMRC and they can send you alternative forms of records for your tax paying.
P60s are for current employees. If you have left a place of work, then you should receive a P45, and this should be all you need for proof of the tax you’ve paid whilst you were with that employer.
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