P60 Meaning Explained: Everything Your Tax Form Tells You

If you’ve just received your P60 and thought, “What does this actually mean?”, you’re not alone. Many people file the form away without realising how important it is. In this guide, we’ll explain what a P60 is, why it matters, when you’ll need it, and how to keep it safe.

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What Is a P60?

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A P60 is an official document your employer must give you at the end of each tax year (no later than 31 May).
It shows a complete summary of your pay and deductions, including:

• Total earnings from that employer for the yearIncome tax paid
• National Insurance contributions
• Student loan repayments (if applicable)
• Statutory payments such as maternity, paternity, or sick pay

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👉 Think of it as your year-end payslip. It provides an official record of your taxable income and tax paid to HMRC.

➡️ Need to get your P60? Read our guide on how to get a P60 document.

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Why Is a P60 Important?

Your P60 is more than just paperwork. It’s proof of your income and tax record. You’ll need it for:

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• Tax refunds or corrections – to reclaim overpaid tax
• Loan or mortgage applications – lenders often request a recent P60
• Benefits and Universal Credit claims – to confirm your earnings
• Disputes with HMRC or employers – as evidence of what’s been reported

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Without it, proving your financial history can become complicated.

➡️ Confused between payslips and P60s? Try our Free Payslip Creator to see the difference.

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When Will You Get a P60?

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Employers must provide your P60 by 31 May after the end of the tax year (which runs 6 April to 5 April).
For example:

• 2024/25 tax year ends 5 April 2025
• You must receive your P60 by 31 May 2025

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It may arrive on paper or electronically, depending on how your employer issues payslips.

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Who Gets a P60?

• If you’re employed on 5 April, you’re entitled to a P60 from that employer.
• If you’ve changed jobs during the year, you’ll get a P60 from each employer you worked for at the year-end.
• If you’re self-employed, you won’t receive a P60 — you’ll need to rely on your Self Assessment tax return instead.

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What If You Lose Your P60?

Don’t worry — you can request a replacement. Your employer must keep records for several years and can reissue the document (sometimes called a “duplicate P60”).
👉 For full steps, see our guide: Lost Your P60? How to Get a Replacement.

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Digital vs Paper P60s

Many employers now issue digital P60s through online payroll systems. These are just as valid as paper copies for HMRC, banks, and mortgage lenders.
💡 Pro tip: Always download and save a PDF copy. Keep it safe for at least 6 years, as HMRC or lenders may ask for old records.

➡️ Wondering if digital copies are valid for banks? Read our guide on Digital vs Paper P60s.

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Common Questions About P60s

‍Do I get more than one P60?
Only if you had multiple jobs on 5 April. Each employer must issue their own.

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Can I see my P60 online?
If your employer uses digital payroll, yes. Otherwise, it will usually be posted or handed to you.

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Is a P60 the same as a payslip?
No. Payslips show your pay each month, while a P60 summarises your total pay and tax for the entire tax year.

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Key Takeaways

• A P60 is an annual tax summary from your employer.
• It shows your earnings, tax paid, and deductions.
• You need it for loans, benefits, and tax checks.
• Employers must issue it by 31 May each year.
• Keep copies safe for at least 6 years.

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➡️ For more on this, see P60 vs Payslip: Which One Matters More?.

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