A P60 is an important tax document that shows how much you’ve earned and the tax you’ve paid in a tax year. Whether you’re applying for a mortgage, claiming a tax refund, or just keeping track of your finances, knowing about your P60 is essential. This guide will explain everything you need to know about your P60, how to get one, and why it matters.
What Is a P60?
A P60 is an annual statement that summarizes your total pay and tax deductions for the tax year (from 6 April to 5 April the following year). Your employer is legally required to provide this document by 31 May if you were working for them on 5 April.
Your P60 includes:
- Your total earnings for the year
- Income Tax and National Insurance paid
- Any student loan repayments deducted
- Any statutory payments (e.g., maternity or sick pay)
P60 Explained
A P60 is proof of your earnings and tax payments for a complete tax year. It is crucial for tax calculations, financial applications, and employment records.
Why Do You Need a P60?
A P60 is more than just a piece of paper—it’s an essential document for financial and tax-related purposes. Here are some common reasons you might need it:
1. Claiming a Tax Refund
If you think you’ve overpaid tax, your P60 helps you claim a tax refund from HMRC.
2. Applying for a Mortgage or Loan
Banks and lenders often ask for a P60 to confirm your income when applying for a mortgage or loan.
3. Applying for Tax Credits or Benefits
You may need a P60 when applying for Universal Credit, tax credits, or other government benefits.
4. Checking Your Tax Payments
A P60 helps you confirm that your tax and National Insurance contributions are correct.
When Are P60s Issued?
Employers must issue P60s by 31 May following the end of the tax year (which ends on 5 April). If you were on payroll on 5 April, you are entitled to receive a P60 from your employer.
How to Get Your P60
Your employer is responsible for issuing your P60. If you haven’t received it by 31 May, you should contact your employer’s payroll department.
Where Do You Get Your P60?
- From your employer if you were employed on 5 April.
- Via your online payroll system, if your employer provides digital payslips.
- Through HMRC if you need a tax statement but cannot get your P60 from your employer.
How Can I Get a P60 If I Lost It?
- Employers are not required to issue duplicates, but they might provide one if you ask.
- You can check your Personal Tax Account on the HMRC website for tax details.
- If you need proof of earnings, you can request a tax statement from HMRC.
P60 vs. P45: What’s the Difference?
Many people confuse a P60 with a P45, but they serve different purposes:
| Feature | P60 | P45 |
|---|---|---|
| Covers the whole tax year? | ✅ Yes | ❌ No |
| Issued when leaving a job? | ❌ No | ✅ Yes |
| Used for tax refunds? | ✅ Yes | ✅ Yes |
| Given to new employers? | ❌ No | ✅ Yes |
A P60 is for the full tax year, while a P45 is issued when you leave a job.
Who Gets a P60?
You’ll receive a P60 if:
- You are employed and on the payroll on 5 April.
- You are a company director receiving a salary.
- You have more than one job, and each employer will issue a separate P60.
You won’t get a P60 if you are:
- Self-employed (you must file a Self-Assessment tax return instead)
- Unemployed or on benefits
- A freelancer without an employer
Employer Responsibilities
Employers must:
- Issue P60s by 31 May
- Ensure tax and National Insurance contributions are correct
- Keep records for at least three years
- Provide digital or paper copies of the P60
If an employer fails to provide a P60, they may face penalties from HMRC.
FAQs About P60
What is a P60 used for?
A P60 is used to show your total earnings and tax payments for a tax year. It is required for tax refunds, mortgage applications, and benefit claims.
How do I get a P60?
You receive your P60 from your employer if you were employed on 5 April. If you don’t get one, contact your payroll department.
How can I get a P60 online?
Many employers provide digital P60s through online payroll systems. You can also check your Personal Tax Account on HMRC’s website.
What should I do if I don’t get my P60?
Contact your employer first. If they don’t provide it, check your Personal Tax Account or call HMRC.
Can I get a P60 if I’m self-employed?
No, self-employed individuals file a Self-Assessment tax return instead.
Can I use my P60 to claim back tax?
Yes, if you’ve overpaid tax, you can use your P60 to claim a tax refund from HMRC.
What happens if my P60 has incorrect information?
Ask your employer to correct it immediately. If they don’t, contact HMRC.
Do I get a P60 if I change jobs?
No, you’ll get a P45 instead when leaving a job. Your new employer will issue a P60 at the end of the tax year.
How eAccounts Can Help
At eAccounts, we specialise in accounting for businesses, freelancers, and eCommerce sellers. Whether you need help with payroll, tax returns, or bookkeeping, our expert team is here to make your finances easier.
📞 Need help with your P60 or tax affairs? Contact us today for expert advice!
