Employers issue a P60 to employees at the end of every tax year. The P60 shows the employee how much their employer has paid them, as well as the tax and NI contributions their employer has deducted for PAYE, in a tax year. It also shows an employee’s tax reference number.
Do I need to keep my P60?
Though an employer should issue payslips each time they pay staff, a P60 is a useful document to keep hold of. It shows you what’s been earned (and deducted) in a year, and is often the easiest way to prove what income and tax has been paid.
If you’re self-employed then your P60 will help you complete the ’employment details’ section of your Self Assessment tax return.
How do I get a P60?
A P60 is normally issued by your employer at the end of the tax year (5th April, ever year). If you don’t receive one, follow this up with your employer.
Do I get a P60 from each employer?
If you have more than one employer, then you’ll receive a separate P60 from each one. The individual P60s will only show the income and tax deductions relating to that employer. If you complete a Self Assessment tax return, don’t forget to include the details of each employer – you’ll need the separate P60s to help you.
Do I have to print my employees’ P60?
If you’re an employer you can provide your employees with either a digital or paper version of their P60. You’ll need to make sure they receive their copy before 31st May in the same year that the relevant tax year ended.
Do sole traders need to issue themselves a P60?
As a sole trader you’re not technically paying yourself a salary from the business, you’re just left with the profits. Because you’re not an employee, you don’t need to issue yourself with a P60.
An experienced Payroll professional, I hold a CIPP Diploma in Payroll Management and have been working in the sector since 2003. In my spare time I like to be with my friends and family, or doing a spot of pilates.