8th May 2017
The deadline for issuing employees with P60s for the 2016/17 tax year is 31 May 2017.
All staff employed by an employer on 5 April must be given a P60 form, either on paper or online, through payroll software.
Alternatively, P60 forms can be ordered through HMRC.
A P60 will summarise an employee’s total pay and deductions on their salary for the tax year.
Employees are required a P60 if they need to:
- claim back any overpaid tax
- apply for tax credits
- provide evidence of income if applying for a loan or a mortgage.
If an individual needs to make a change on their P60, the employer must produce a new form marked ‘replacement’ and a letter to the employee confirming the change.
Talk to us today about your reporting obligations.