If you are employed, you receive a P60 every year, and it is one of the most useful tax documents you will get. Many people file it away without a second look, but it matters when you claim a refund, apply for a mortgage or check your tax. This guide explains what a P60 is, what it shows, and what to do with it.
What is a P60?
A P60 is an end of year certificate that summarises how much you were paid in the tax year and how much tax and National Insurance was deducted through PAYE. Your employer must give it to you after the end of each tax year, which runs to 5 April, normally by 31 May. If you have more than one job, you get a P60 from each employer.
What information does a P60 show?
Your P60 shows your total pay for the year, the income tax deducted, the National Insurance you paid, your final tax code, and your National Insurance number. If you had a previous job in the same year, the figures may include that pay too, so the P60 reflects your whole year with that employer.
Why you need it
A P60 is proof of your income and the tax you have paid, so it is useful in many situations. You may need it to claim back overpaid tax, to complete a Self Assessment return, to apply for a mortgage or other credit, to claim tax credits or benefits, or simply to check that your tax is correct. It is worth keeping each P60 safely for several years.
P60 versus P45
It is easy to confuse the two. A P60 is given every year while you are still employed and summarises the whole year. A P45 is given when you leave a job and shows your pay and tax up to your leaving date. You get a P60 from your current employer and a P45 from one you leave.
What to do if it is wrong or lost
If the figures on your P60 look wrong, raise it with your employer first, as they produce it. If you have lost a P60, your employer can usually give you a replacement or a statement of earnings, and your Personal Tax Account also shows much of the same information. Employers no longer have to issue paper copies, so yours may be available online through your payroll system.
Frequently asked questions
What is a P60?
An end of year certificate from your employer summarising your pay, income tax and National Insurance for the tax year.
When should I get my P60?
After the end of the tax year on 5 April, normally by 31 May, from each employer you worked for.
What is the difference between a P60 and a P45?
A P60 is given each year while employed and covers the whole year, while a P45 is given when you leave a job and covers your pay and tax to that date.
What if I lose my P60?
Ask your employer for a replacement or statement of earnings, and check your Personal Tax Account, which shows much of the same information.