What Is a P60 Used For?

Employers issue a P60 to their employees after the end of every tax year to show how much pay they received, and the total amount of tax, National Insurance, and other contributions they made in the previous tax year. It also shows an employee’s tax reference number.

Do I need to keep my P60?

Though your employer should issue payslips each time they pay you, 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 how much income you received and what tax has been paid through PAYE.

If you’re self-employed as well as working for an employer then your P60 will help you complete the ’employment details’ section of your Self Assessment tax return.

How do I get a P60?

Your employer will normally issue your P60 after the end of the tax year it relates to (5th April, every year), although you might not get one straight away and your employer has until May to do so. 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’ P60s?

As 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.

 
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