{"id":171213,"date":"2024-03-20T09:00:15","date_gmt":"2024-03-20T09:00:15","guid":{"rendered":"http:\/\/realbusiness.co.uk\/?p=171213"},"modified":"2024-05-05T18:33:29","modified_gmt":"2024-05-05T17:33:29","slug":"p60-tax-refund-example","status":"publish","type":"post","link":"https:\/\/realbusiness.co.uk\/p60-tax-refund-example","title":{"rendered":"P60 Tax Refund Example"},"content":{"rendered":"
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Your P60 form<\/u><\/a>\u00a0is an example of a vital tax document that is given to each employee at the end of the tax year (which runs each year from 6th April to 5th April). They essentially give you a summary each year of how much tax you paid and your total employment income for that tax year.<\/strong><\/p>\n

This official record is useful for individuals who may need to claim tax relief or a tax return when they have overpaid tax due to business expenses not yet being submitted to HMRC. By seeing the total tax paid, you can work out if you’ve paid too much tax.<\/p>\n

From a business owner’s perspective, it’s vital that you provide a P60 form to every employee, as this is an important document and record that many employees will keep each year to compare tax paid and to bring up any discrepancies with HMRC. A P60 should be given to ALL employees – past and present. If an ex-employee completed work for you in the tax year that the P60 relates to, then they must receive one.<\/p>\n

Below we’ll cover everything you need to know about P60s \u2013 what they’re for, who gets them, key details included, when you should receive it, and what to do if you don’t get one for some reason.<\/p>\n

We’ll also outline what a P60 tax refund is, give some examples, and take you through the process of claiming money back.<\/p>\n

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Table of Contents<\/p>\n