We decode the P45 tax form to answer exactly what is a P45, when you should expect to receive one and explain what information it contains.

What is a P45 Tax Form

A P45 is a tax form is produced by your employer showing your gross salary and tax deducted while you were in their employment.

The figures contained on your P45  tax form relate to just the current tax year not the whole time you were in their employment.  A tax year runs from 6th April to 5 April each year.

So say you worked for an employer from 1 January 2017 to 30 September 2017 you P45 will show your gross earnings and tax for 6 April 2017 to 30 September 2017.  Your employer should have issued you a P60 which would have detailed your earnings for 1 January 2017 to 5 April 2017.

What is on a P45 Tax Form

The P45 tax form shows the following details:

  • tax code and PAYE reference
  • your National insurance number
  • your full name (inc middle names)
  • leaving date

What Does a P45 Tax Form Look Like

What is a P45

A P45 tax form is made up of four parts –

  1. Part 1 – sent by your employer to HMRC (now done electronically)
  2. Part 1A – for you to keep
  3. Part 2 – retained by your new employer
  4. Part 3 – sent by your new employer to HMRC (now also done electronically)

Your P45 Tax Form is a legal document

If you do not receive your P45 tax form when you stop working for your employer, ask for it – you’re entitled to it by law.

Why You May Need Your P45 Tax Form

Don’t loose your P45 you may need it in certain circumstances such as:

  • If you fill out a tax return you’ll need to include details of employment income;
  • As proof of earnings if you are applying for a loan or mortgage;
  • For your new employer when you start your new job.

Will the Job Centre give me a P45?

Lewis is a freelance writer and marketing expert specialising in owner managed business. All his writing is based on his own experiences and observations, giving you a unique perspective on running a small business or being self employed.