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PAYE Forms Explained

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PAYE Forms Explained

P45

The employee will have received a P45 from their previous employer when they stopped working for them.  This should be given to the new employer (BCC). It's a record of pay and the tax that's been deducted from the total earnings so far in the current tax year. It shows:

  • their tax code and PAYE (Pay As You Earn) reference number
  • their National Insurance number
  • their leaving date
  • their earnings in the tax year
  • how much tax was deducted their your earnings
  • what period in the Tax year the employee was paid up to

A P45 has three parts; you will need to send Part 2 and Part 3 to 8th Floor - Payroll, NCO, Walton Street, Aylesbury or emailed to the hrservicedesk@buckscc.gov.uk.

New Starter checklist (previously known as P46)

A new starter checklist is required for tax purposes and is completed by an employee who does not have a P45 when commencing a role. 

New starter checklists must be signed by the employee. You can do this either online, or download a printable version on the Gov.uk website.

A  new starter checklist contains important information that affects the amount of tax payable, such as whether:

  • this is their first job 
  • they’ve been claiming Jobseeker's Allowance or Employment and Support Allowance
  • they've got another job or had another job in this tax year or are in receipt of the State Occupational pension.
  • they’re paying off a student loan and what plan they are on

Completed new starter checklists  should be sent to 8th Floor - Payroll, NCO, Walton Street, Aylesbury or emailed to the hrservicedesk@buckscc.gov.uk.

P11D

A P11D tells HM Revenue and Customs (HMRC) about the value of any taxable benefits an employee has received during the tax year. This means benefits or expenses that effectively increase their income, for example:

  • a company car
  • private medical insurance

P11Ds are issued by the 6th of July annually.  These are generally sent to all employees with taxable benefits in the two weeks prior to the 6 July. 

P60

A P60 is the summary of an employees pay and the tax that has been deducted from it in the tax year (which runs from 6 April to 5 April).

A P60 shows:

  • total pay: How much income the employee has earned for that tax year
  • total tax deducted: The amount of income tax taken for that tax year

The P60 will not report on gross earnings, i.e. basic salary, rather it will show, the taxable earnings and tax paid to date.

The P60 should match the final tax month (period 12) which is your March payslip template as per snip below:

 P60 Snip

Employees will receive P60 by 31 May, providing they have been employed until the end of the tax year. It's important for them to keep P60’s safe; there are legal regulations which don’t allow for another original to be printed.  A P60 is proof of income received, particularly important when applying for a loan or a mortgage.

P60’s may also be needed:

  • to complete a Self Assessment tax return, if this applies to them
  • to claim back any overpaid tax
  • to apply for tax credits

 

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