P60

The P60 is a document that outlines how much you’ve earned over the course of the tax year, as well as how much you then paid in National Insurance contributions and PAYE income tax to HMRC.

The information detailed on your P60 comes from:

  • Your employer: salary, bonuses, benefits and hours worked
  • You: this is if you’ve filed a Self Assessment tax return
  • Your pension provider: total contributions, how regular payments were made and any tax deductions
  • Department of Work and Pensions: any state benefits you’ve been paid

A P60 is essentially a way of showing the amount of tax you’ve paid for the year and a form of proof of your salary. You might need it if you’re applying for a mortgage, loan, or if you’re leasing a rental property. It’s also handy to have in case you have any tax disputes with HMRC, or if you’re filing a Self Assessment tax return.

You might not receive a P60 if you’re self-employed as this document is usually issued by an employer. If you need one for proof of your earnings, like for a mortgage application, instead you can use an SA302 which shows your earnings made over the past 4 years.

Frequently Asked Questions

  • What is the tax year?

    The tax year – also known as the fiscal year – runs from 6th April until the following 5th April.

  • How long should I be storing my Tax Records?

    In the UK, you must keep your tax records for at least six years from the end of the relevant tax year. Accounting software can help you to digitally store your records without taking up space in your office!

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