What is a P60 and who receives one?

A P60 is a form issued by HM Revenue and Customs (HMRC) that summarises an employee’s total pay and tax deductions for the tax year. In the past, P60 forms were commonly issued on official HMRC stationery. Today, they are more often produced electronically by employers through payroll software. HMRC no longer routinely supplies printed P60 stationery, although it can still be ordered in limited circumstances by employers who are exempt from online filing.

All employees who are still employed on 5th April, the final day of the tax year, must receive a P60 from their employer by 31st May. The document may be provided either in paper or

electronic format.

Employees who have more than one job will receive a separate P60 for each employment.

If an employee leaves their job before 5 April, they will instead receive a P45 when their employment ends and will not receive a P60 for that job. The P45 is another HMRC document that shows the employee’s taxable pay and tax deducted up to the leaving date.

A P60 is an important record and may be required for various purposes, such as proof of income for mortgage or loan applications, or when completing a Self Assessment tax return.

What information does a P60 contain?

A P60 includes the employee’s name and address, as well as the employer’s details, including the PAYE reference number.

It also shows the total pay subject to income tax for the tax year and the total tax paid. This figure may differ from the employee’s gross pay or the amount used for National Insurance (NI) calculations. Certain items, such as pension contributions or benefits, can affect these totals differently. The P60 displays only the total pay used for income tax purposes.

The document also includes the employee’s final tax code for the year, the National Insurance category, the total employee NI contributions deducted, and some details of the NI earnings bands. The National Insurance section is typically the most complex part of the form and is often overlooked by employees.

In addition, the P60 shows statutory payments (such as statutory maternity or paternity pay) and any student loan repayments made during the tax year. Postgraduate loan repayments

are listed separately, although the specific student loan plan type is not shown, and multiple plans are not broken down individually.