The deadline for issuing employees with P60s for the 2016/17 tax year is 31 May 2017 (next Wednesday!)
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.