In the United Kingdom, a P60 (End of Year Certificate) is a statement issued to taxpayers at the end of a tax year. It is important a taxpayer does not destroy the P60 forms issued to them, as they form a vital part of the proof that tax has been paid. They were also issued in Ireland until the 2018 tax year.
In Ireland, P60s were abolished from 1 January 2019.[1]
In 2018 and previous years, it detailed a taxpayer's taxable income and deductions made by PAYE, PRSI (Pay Related Social Insurance), health levy, and Universal Social Charge (which replaced the income levy that had started in 2009) for that year. If the taxpayer's liability to tax for any year needed to be reviewed, they would need to send one part of the Form P60 to their Revenue Office. If they needed to claim a Social Welfare benefit, they would send the second part to the Department of Social Protection as evidence that they had paid PRSI contributions.
For employers, the P60 documents for their employees accompanied other documents sent in an end-of-year package which included the P35 document. The employers then passed on the P60 to their employees.
Proprietary company directors also filled in a "Form 11" or a "Form 12 Directors" at end of year.[2]
United Kingdomedit
In the UK, the P60 form has been issued since 1944 by employers to each of their employees to detail the employees' taxable income and deductions made by PAYE (both for income tax and National Insurance contributions) for that year. Historically, it was the third part of a triplicate form, the front two parts being P14 (End of Year Summary). P14 part 1 was sent to the Contributions Office, P14 part 2 was retained by the tax office with which the PAYE scheme is registered, however P60 (never referred to as P14 part 3) continues to be issued to the taxpayer. The P60 has to be given to employees (and by the Department for Work and Pensions to those claiming taxable benefits such as Jobseeker's Allowance) by 31 May.[3] Parts 1 and 2 of the P14 were rendered redundant by RTI at the beginning of the 2013/2014 tax year.[4]
^. www.revenue.ie. Archived from the original on 16 January 2019. Retrieved 14 January 2022.
^(PDF). www.revenue.ie. Archived from the original (PDF) on 7 December 2005. Retrieved 14 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
^"PAYE end-of-year tasks at a glance". HM Revenue & Customs. Retrieved 18 May 2013.
^"UK Government Web Archive". webarchive.nationalarchives.gov.uk. Retrieved 20 November 2023.
other, uses, disambiguation, united, kingdom, year, certificate, statement, issued, taxpayers, year, important, taxpayer, does, destroy, forms, issued, them, they, form, vital, part, proof, that, been, paid, they, were, also, issued, ireland, until, 2018, year. For other uses see P60 disambiguation In the United Kingdom a P60 End of Year Certificate is a statement issued to taxpayers at the end of a tax year It is important a taxpayer does not destroy the P60 forms issued to them as they form a vital part of the proof that tax has been paid They were also issued in Ireland until the 2018 tax year A P60 End of Year Certificate Contents 1 Ireland 2 United Kingdom 3 See also 4 References 5 External linksIreland editIn Ireland P60s were abolished from 1 January 2019 1 In 2018 and previous years it detailed a taxpayer s taxable income and deductions made by PAYE PRSI Pay Related Social Insurance health levy and Universal Social Charge which replaced the income levy that had started in 2009 for that year If the taxpayer s liability to tax for any year needed to be reviewed they would need to send one part of the Form P60 to their Revenue Office If they needed to claim a Social Welfare benefit they would send the second part to the Department of Social Protection as evidence that they had paid PRSI contributions For employers the P60 documents for their employees accompanied other documents sent in an end of year package which included the P35 document The employers then passed on the P60 to their employees Proprietary company directors also filled in a Form 11 or a Form 12 Directors at end of year 2 United Kingdom editIn the UK the P60 form has been issued since 1944 by employers to each of their employees to detail the employees taxable income and deductions made by PAYE both for income tax and National Insurance contributions for that year Historically it was the third part of a triplicate form the front two parts being P14 End of Year Summary P14 part 1 was sent to the Contributions Office P14 part 2 was retained by the tax office with which the PAYE scheme is registered however P60 never referred to as P14 part 3 continues to be issued to the taxpayer The P60 has to be given to employees and by the Department for Work and Pensions to those claiming taxable benefits such as Jobseeker s Allowance by 31 May 3 Parts 1 and 2 of the P14 were rendered redundant by RTI at the beginning of the 2013 2014 tax year 4 See also editTaxation in the United Kingdom United Kingdom employment law Form W 2 the equivalent for US workers P45 T4 the equivalent for Income taxes in CanadaReferences edit P35 and P60 2018 www revenue ie Archived from the original on 16 January 2019 Retrieved 14 January 2022 Archived copy PDF www revenue ie Archived from the original PDF on 7 December 2005 Retrieved 14 January 2022 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link PAYE end of year tasks at a glance HM Revenue amp Customs Retrieved 18 May 2013 UK Government Web Archive webarchive nationalarchives gov uk Retrieved 20 November 2023 External links editPAYE forms P45 P46 P60 P11D DirectGov 2006 7 P14 and P60 HM Revenue and Customs Section 4 Irish Revenue PAYE Tax Guide Leaflet IT11 Retrieved from https en wikipedia org w index php title P60 amp oldid 1186074589, wikipedia, wiki, book, books, library,
