P60’s for your Employees

P60’s for your Employees

 As an employer you must provide all employees on your payroll on 5^th April 2020 with a P60 for the 2019/20 tax year.

The P60 proves the amount of tax each employee has paid on their salary. Your employee will need to keep their P60 as it could be needed to:

• Claim back overpaid tax
• Apply for Tax Credits
• As Proof of Income if you apply for a loan or Mortgage
• Self-Assessment tax returns

P60’s must be provided to your employees by 31^st May 2020, on paper or electronically.

If an employee has left your employment before the end of the tax year they will have been issued with a P45 and a P60 will not be due.