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During the course of your working life you will acquire a number of tax-related documents that unless you are an accountant you are unlikely to take a second look at. However, they can be important and save you time and money - here are some of the main ones:
P45
When you leave a job for any reason it is important to get form P45 from your employer. This is shows:
It is very important you are given a P45. If you do not get one you may find that if you are starting a new job you are placed on an emergency tax code and could end up paying more tax in your new job until your correct code is confirmed. A P45 has 3 parts, you should keep Part 1A as a record of your pay and tax and hand the P45 Parts 2 and 3 to your new employer so that the correct amount of tax is taken from your pay.
P46 & P91
If you don't have a P45 and are starting a new job, your new employer will give you a form P46 to sign. If you sign statement B on the form, a temporary PAYE code will be allocated to you. The Tax Office will then try to trace your previous employer so they can give you your proper code. If they can't, they will send you form P91 asking for details of your previous employment. In the meantime, your new employer will continue to use the emergency tax code for you. If you are starting your first job your employer will give you form P46 to sign. You will then be allocated a PAYE code based on your personal allowances.
P60
This is a certificate of pay, income tax and national insurance contributions. They are issued at the end of every tax year by your employer and detail how much you have earned and how much tax and NI you have paid. You do not have to do anything with a P60 other than keep it in a safe place as duplicates cannot be issued and you will need it if you have to complete a tax return .
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