Supplying employees with P60s is an annual job that shouldn\u2019t take up too much of your time. But what is a P60 document? And what happens if you miss the P60 deadline? Plus how can you claim a P60 tax refund?<\/p>\n\n\n\n
What is a P60 statement? This simple guide explores the P60 meaning for employers, business owners, and employees in the UK.<\/p>\n\n\n\n
Your employee\u2019s P60 summarises their total pay and deductions for the tax year (6 April to 5 April the following year).<\/p>\n\n\n\n
It\u2019s an official document which clearly states pay (from their current and any previous jobs during the tax year), total tax deducted through PAYE<\/a>, National Insurance contributions<\/a>, and any student loan or statutory payments like maternity pay.<\/p>\n\n\n\n The process for issuing P60s will depend on how you manage your payroll. If you have an accountant, they\u2019ll normally send out P60s to employees for you. If you manage your own payroll, you can issue them in digital or paper format. <\/p>\n\n\n\n The easiest way to order P60s is in digital format. You can email them directly to employees, but must make them password-protected. To do this, you\u2019ll need to use some sort of payroll software. If you have fewer than ten employees, you can use the basic PAYE tools offered by HMRC. Larger businesses will need to use more sophisticated payroll software.\u00a0If you need paper copies, you can order P60s directly from HMRC \u2013 but bear in mind that these will take at least seven days to arrive.<\/p>\n\n\n\nHow to get a P60<\/h2>\n\n\n\n