p60 end of year certificate?
Your end of year p60 certificate shows how much you have earned and the amount of tax that you have paid on your salary for that particular financial year. If you have more than one job, you will get a p60 for each individual job. If you leave a job before the end of the tax year you will receive a p45.
Your p60 explained
You p60 will show the following information:
• Employer & employee details
• The income you have earned from your employer
• Total tax paid on your salary between April 6th – April 5th
• Your PAYE / BR tax code
• Your national insurance number
• Your N.I category letter
• N.I (national insurance) contributions
• Maternity, paternity, shared parental & adoption pay.
• Student loan deductions (varies depending on salary)
• Total income from a previous employer
• Total tax deduction from a previous employer
What does a P60 look like?
How do I get a p60?
If your employer you will need to supply your employees with an end of year p60. If you are an employee, you should receive your p60 from your employer by May 31st, either on paper or an electronic copy. You will need to keep your p60 to prove exactly how much tax you have paid on your income for the following reasons:
• In Case you have overpaid and need to claim a tax refund
• If you need to apply for working tax credits
• Proof of income if you are applying for a bank loan or mortgage
What Can I Claim Tax Back On?
You can claim tax back on most work-related expenses. Below is a list of items that you can request a tax rebate on:
• Vehicles for work use
• Fuel/Mileage costs
• Travel expenses
• Overnight expenses (food in certain circumstances)
• Rail Tickets (single & season tickets)
• Uniforms, work clothing and tools
• Cleaning costs for uniforms
• Professional fees, subscriptions & unions fees
This list is an example of what you could claim back; there may be expenses & items specific to the job role that you could claim back.
What are the Deadlines?
In the UK, the current legislation states that you can claim back up to four years when claiming a tax rebate. What this means is you could claim for the following tax periods:
• Year ending 5th April 2016
• Year ending 5th April 2017
• Year ending 5th April 2018
• Year ending 5th April 2019
Over such a long period of time wage slips and p60s can be lost or misplaced. In most cases, this is not a problem as at Swift Refunds we can seek copies from HM Revenue & Customs on your behalf.
Am I Due Any Tax Back?
Most workers, whether employed or self-employed may be due a tax rebate for work-related items, expenses or because they have paid too much tax. HMRC do not know everyone’s individual circumstances, and it is up to the taxpayer to contact HMRC to see if they are entitled to any tax relief.
Other reasons for a tax refund may include pension payments, redundancy payments, interest from a savings account, PPI, or UK income if you are living aboard.
All claims for tax refunds and rebates are reviewed on a case by case basis. Use our tax claim form and answer a few simple questions to see if you could be entitled to make a claim.
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DO YOU QUALIFY FOR A TAX REFUND FROM HMRC?
Whether you use your own vehicle for work, use public transport such as trains to travel to various work locations or buy your own equipment and materials then there is a good chance that you can claim back for your travel expenses. HMRC lets claimants claim up to 4 years worth of expenses. On average a 4-year tax rebate pays out around £2,500.