How many p45

At the tax year end, employees will have a separate P60 for each current job. So if you have two jobs, you may receive two P60s. You have a legal obligation to provide a paper or electronic copy to your employees shortly after 5 April each year. You must give a copy of the P60 to each employee to keep for their own tax records and also submit a copy electronically to HMRC through your usual payroll software.

Just as you have a legal obligation to provide every employee with a payslip, you must also give them a P60 by 31 May each year. This can be a paper or electronic version. Both the employer and the employee need to keep the P60 for at least six years. Your payroll software will generate a P60 for each employee after you have completed the final payroll period of the tax year. You can give this to your employee as an electronic or paper document.

Both P45 and P60 are important for proving salary and tax paid and should be retained by the employee and employer.

This article is intended as general information only and does not constitute advice in any way. For any specific questions, you may want to consult a qualified accountant.

The revised system will mean you can access your p45 online, getting rid of the need for paper documents. These changes were implemented on January 1st Paper P45 and P60 documents are now abolished.

Instead, they can be accessed online via your account on the Revenue website. A P45 form is a statement of your pay and deductions for the year up to the date you leave your job. For example, your P45 should list all of your wages and the deductions taxes that were taken out each month. These are temporary codes, and could mean that you will pay too much tax. You should then phone HMRC to get your code changed to a cumulative code. If you have no P45, perhaps because you were on a career break or self-employed before you started employment, then the employer should use a Starter Checklist to work out what tax code to use.

Instead information about joiners and leavers is included in their RTI returns. Employees still need to provide new employers with information for the Starter Checklist i. P45 information may be processed incorrectly As an employee, you should ensure not only that the correct page of the P45 is handed to your current employer, but also that the P45 is processed correctly. If the form has been correctly processed, your previous pay and tax details, along with your previous PAYE code should be shown on your new payslips and the year end form P60, or P45, if you leave before the end of the tax year.

Your tax codes may be incorrect If you change jobs or take an additional job, your tax codes may no longer be correct.