The P60 is an end-of-year summary that every UK employee receives from their employer. It provides a complete picture of earnings and tax deductions for the tax year running from 6 April to 5 April.
Information Included
Your P60 shows total pay for the year, total income tax deducted, National Insurance contributions (both employee and employer portions), statutory payments received (like statutory sick pay or maternity pay), and your tax code. It also includes your National Insurance number and employer details.
When You Receive It
Employers must provide P60s by 31 May following the end of the tax year. You only get a P60 if you are employed on the last day of the tax year (5 April). If you left before that date, your P45 serves as your record instead.
Why to Keep It
P60s are useful for completing Self Assessment tax returns, applying for tax refunds, proving income for mortgages or loans, claiming tax credits, and checking your State Pension forecast. Keep them for at least the current and previous four tax years.