It is compulsory for an employer to provide their employees with a P60 by the 31st May 2024.
In the UK and Ireland, a P60 (End of Year Certificate) is a statement issued to taxpayers at the end of a tax year. It is important a taxpayer does not destroy the P60 forms issued to them, as they form a vital part of the proof that tax has been paid.
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A P60 document shows an employee's taxable earnings in a specific tax year. It will show the amount of deductions taken from pay such as tax, national insurance and student loans, and it will also show whether any statutory payments have been received within the tax year.
A P60 is very useful if you need to prove your earnings or deductions for a specific tax year. It is a highly recognized document and it can be used for obtaining a mortgage or claiming tax credits, for example.
P60 information can be checked by using your payslips. If your P60 is showing any incorrect information, then please contact your employer and explain why it is incorrect. Your employer can issue you with a new P60, marked as a replacement, or give you a letter which explains the changes to your P60.
If you have lost or mislaid your P60 then please contact your employer and they will issue you with a replacement copy. It is also possible to obtain the details through HMRC personal tax account service.
iCalculator's P60 Guides and P60 Calculators include detailed information and guidance to help you understand your P60, identify key parts of the P60, explain how your P60 is calculated and what information you need to know and understand about a P60 as an employee and employer. Our aim with the P60 guides is to provide insight into the correct completion of a P60, whether it be an audit as an employer to ensure your end of year certificates are calculating correctly or as an employee to check that you have paid the right amount of income tax and, if not, how to claim any overpaid tax back.