P60’s for your Employees
As an employer you must provide all employees on your payroll on 5th 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 31st 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.