A P60 is an official HMRC form that shows taxable salary the an employee has paid in a tax year and the amount of tax that was deducted from their wages.
If you are an employee, your employer will give you a P60 at the end of the tax year.
If you have a full-time job and additional income, you will need to file a Tax Return. If you are submitting your return yourself, the information included on your P60 will be highly relevant when completing Self Assessment (employment pages section on the return).
Employees who leave a job during the tax year will not receive a P60 form from their employer. However a P45 will be issued, once you’ve finished working with your employer.
Always keep your P60 form safe in order to:
- Claim back any overpaid tax
- Provide proof of income – Useful when applying for mortgages and loans
- To apply for Tax Credit