2018 / 2019 P60 Checklist
A P60 is a form used by HMRC. A P60 is issued at the end of each tax year. A P60 contains exact information about how much you have earned PAYE (Pay As You Earn) and NIC's (National Insurance Contributions) you have paid during the specified tax year.
30 second introduction to P60
It is your responsibility to check your P60 and claim back any overpaid tax or report underpaid tax.
What you should check on your P60
It is your responsibility to check your P60 is correct. Any errors on your P60 may mean you are due a tax rebate or have to repay additional tax. Check the following areas of your P60 are correct:
- Forename and Surname: Check the spellings are correct.
- National Insurance Number: Ensure the National Insurance Number shown is your National Insurance Number. National Insurance Contributions payment made will be against this National Insurance Number and will affect your State Pension when you retire.
- Works Payroll Number: Check with your Human Resource or Payroll department to ensure you have the correct employee payroll number. This will help when dealing with HMRC enquiries.
- Previous Employment Pay: If you have changed jobs it is important that your previous pay is recorded correctly
- Pay in this employment: This is how much you have earned with your current employer, ensure it tallies with your annual salary expectation and any overtime etc. It should also be adjusted for any salary sacrifice payments made.
- Total pay for the year: This is the sum of earnings in previous and current employment, ensures this figure matches the sum of the two figures above.
- Final tax Code: This is your tax code at the tax year end. Typically it will be L followed by a set of numbers. If not you may be on an adjusted tax rate or emergency tax. If you don't expect to be on a special tax code then check your tax code with HMRC.
- National Insurance Contributions in this employment: Most employers use payroll software so these figures are normally correct based on your total annual earnings. if your total annual earnings are wrong then these figures will also be incorrect and you may be due a National Insurance Contributions refund/additional payment.
- Employee Details: This should show your full name and address, check it is correct. If your address is wrong, inform your Human Resource / Payroll department
Checking that your P60 is correct takes just a few minutes and could save you money on overpaid taxes and/or future frustration with HMRC should they pick up on the error in future years.
Want to know more about P60s? Read a more detail guide to your P60
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