One of the most important tax forms that you will need is your P60. Your P60 summarises your pay and the tax that you have paid in a particular tax year.
Our guide looks at what your P60 is for, when you should receive one and how to get a copy of your P60.
What is your P60 and when do you receive it?
Your P60 is a form which shows your total earnings from a job or pension in the previous tax year. It also shows how much tax you have paid. If you have several jobs or pensions then you should receive a P60 for each of them.
You should receive a P60 at the end of every tax year – usually around April or May. You are entitled by law to receive a P60 from your employer if you are still working for them at the 5th April. Ask your employer to provide you with a P60 if you haven’t received one.
What you need your P60 for
There are various reasons that you may need a P60:
- To apply or renew tax credits
- To claim a tax rebate
- To complete your self assessment tax return
Many banks and building societies also request your P60 when deciding whether to agree a loan or mortgage application.
Paper and electronic P60s
From the 2010/11 tax year your employers can provide your P60 on paper or electronically. You will have to give your consent to your employer to receive an electronic version as you must have the ability to securely view and print a copy.
Getting a copy of your P60
If you have lost your P60, you should first approach your employer to ask them if they can provide you with a copy.
Employers are obliged to keep records of pay for three years and so they should be able to provide you with a copy of your P60 for the last three years. The P60 will be clearly marked as ‘duplicate’.
HM Revenue and Customs (HMRC) cannot provide a duplicate of your P60.
If you need a copy of your P60 from more than three years ago, it is unlikely that you will be able to get one. Your employer may be able to provide you with a ‘statement of earnings’ on company headed paper which should act as a replacement for a P60.
Alternatively, you should contact your Tax Office. Your tax office will be able to provide you with alternative, official information regarding the amount of tax that you paid.