If you’ve ever changed jobs or checked your tax documents, you’ve probably come across both a P60 and a P45. They look similar, but they serve very different purposes. Here’s a clear breakdown of the difference between them, when you’ll get each one, and why they matter.
✅ What Is a P60?
- A P60 is your annual tax summary.
- Issued by your employer at the end of the tax year (no later than 31 May).
- Shows your total pay, tax, National Insurance, and deductions for the year.
👉 You’ll need your P60 for loans, mortgages, tax refunds, and benefit claims.
✅ What Is a P45?
- A P45 is given to you when you leave a job.
- It shows your earnings and tax paid so far in the current tax year.
- Split into several parts: one for you, one for your new employer, and one for HMRC.
👉 You’ll need your P45 to start a new job (so you’re put on the right tax code) or if you’re claiming Jobseeker’s Allowance or Universal Credit.
🔍 P60 vs P45: The Key Differences
| Feature |
P60 |
P45 |
| When you get it |
End of the tax year |
When you leave a job |
| Who gives it to you |
Your employer (if employed on 5 April) |
Your employer (when you leave) |
| What it shows |
Full year’s pay & deductions |
Pay & tax for part of the current year |
| Main use |
Proof of income/tax for loans, HMRC, benefits |
Ensures correct tax when you change jobs |
🏦 When You’ll Need Each
- P60 – Mortgage or loan applications, benefit claims, tax refunds, proof of income.
- P45 – Starting a new job, claiming unemployment benefits, making sure HMRC has the right figures for your tax code.
❓ What If You Don’t Have One?
- Lost your P60? Ask your employer for a duplicate P60.
- Lost your P45? You can’t get another copy, but your new employer can get the figures directly from HMRC if needed.
