A P60 is an annual summary an employer issues to each employee still on their payroll at the end of the tax year, showing total pay and the tax and National Insurance deducted. It is an important record for confirming income when applying for loans, mortgages, or tax refunds.
When a P60 is issued
Employers must give employees their P60 by a set deadline after the end of the tax year, either on paper or electronically. It should be kept safely, as HMRC does not automatically reissue lost copies.
Tax rules depend on individual circumstances and can change. This glossary is general information rather than personalised tax advice.