What is a P60?
A P60 is an annual document provided to employees which summarises their total income and tax paid during the tax year.
Why is a P60 important?
It serves as an official record for tax purposes and may be required for financial applications such as loans.
What information does a P60 include?
It includes total earnings, tax paid, National Insurance contributions, and other deductions.
When is a P60 issued?
It is issued at the end of the tax year by the employer.
Who uses a P60?
Employees, HMRC, and financial institutions use it as proof of income and tax paid.