Your P60: Explained
Like all employers in the UK, we’ll soon be giving each of our clients employees a P60 form for the 2019/20 tax year. It seems like a good time for a quick reminder of why we send P60s and what information it includes.
A P60 is a certificate that employers must send to each of their employees at the end of every tax year. It shows your gross salary and how much tax and National Insurance you paid in the last tax year, which runs from 6th April to 5th April. It also includes a note of your payroll number.
This document comes in handy when you’re asked to prove your annual income. For example, if you’re applying for tax credits or completing a tax return.
Check the amount in the ‘Pay’ box to see your gross salary for the tax year.
If you had more than one employer during the tax year, we will include details of any income from your previous employment that we’re aware of. We’ll only have this information if you gave us a P45 from your previous employer or if HMRC sent us a coding notice that included the figures.
When will I receive my P60?
The deadline for all employers to issue P60s is the 31st May 2020.
What should I do with my P60?
Keep it safe! Even if you don’t need it straight away, you might find yourself looking for it one day. We recommend you file it for your records.