Reader’s question: If I worked for a number of companies, each with their own individual name accounts and account number, would I be issued with a p60 for each one or could each income from each company be all on the one p60?
Expert’s answer: The expert to answer this question is Tyler Thompson from Dolan Accountancy.
That is a great question, for those who do not know a P60 is a document you receive from your employer that shows the tax you have paid on your salary in the tax year (6th April to 5th April). It also includes how much you have paid in National Insurance contributions and Pay As You Earn (PAYE) income tax.
Your P60 is important because the form is proof of the tax you have paid for that tax year. You’ll often be asked to provide a copy of your P60 when applying for a rental property or mortgage, and various other financial services as proof of your salary. The P60 must be given to you by 31 May after the end of the tax year, so that, if you need to, you can complete a tax return or claim a repayment of tax.
What is included on a P60 form?
- Your Name
- Gross Pay
- Tax Paid
- National Insurance Number
- National Insurance Contributions
- Statutory Pay
In this case, the person works for multiple companies, and it is important to ensure you are paying the correct tax over the multiple sources of employment. As you have more than one job it is important to ensure the earnings are being consolidated as you want to pay the right amount of tax.
Each company will issue a P60 to their employee
Your employer will only be able to issue you with a P60 with the tax paid on your salary from that employment, which means you will receive a P60 for each company you have worked for.
The reason for this is the companies are their own legal entities and will not have access to your other employment information.
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