P60

What is a P60? - A Quick Guide!

What does it show, when is it issued and what period does it cover?

When you are employed under PAYE and remain employed through 5th April, you are issued with a P60 by your employer.  This details your tax year gross income (including any payroll benefits), tax deducted, national insurance contributions and, if applicable, student or postgraduate loan deductions in that particular employment.  It also indicates if you have been subject to any Statutory Pay (Sick, Maternity, Paternity, etc.) and the associated amount included in the overall income.  It is possible to have more than one P60 if you have more than one employment as at 5th April.

The period covered by the P60 is the 'tax-year' that runs from 6th April to 5th April the following year (inclusive) and it must be issued to you by 31st May following the end of the tax year.

Changes in Employment

If you change employment during the tax year, there are boxes to show pax and tax concerning the previous employment and these figures are obtained by the new employer when you hand them the applicable part of the P45 issued by the old employer.  If you are required to file tax returns, all employments in the tax year have to be detailed separately. 

General Information and Recommendations

General information included on the P60 is your name, address and national insurance number and your employer's name address and PAYE reference.  The P60 is a very important document and must be kept safe as it may be required to promote a reclaim of tax, or for use concerning your tax return, when applicable.  Equally, if you have changed, or ceased, employment it is important to retain and keep safe the P45.