How do I process a P60?
You must provide a form P60 for each employee who is working for you at the end of the tax year. The P60 confirms an employee’s PAYE tax code and shows their total earnings for the year, as well as the year’s total tax deductions and National Insurance contributions.
If the employee joined your company within the tax year, the P60 might not show the employee’ s full earning s for that tax year. Make sure your employee understands they need to keep their P60s safe and that they might need it to:
- Complete a Self Assessment tax return, if they are requested to
- Claim back any tax you’ve overpaid
- Apply for tax credits
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