Tax Forms

Complicated tax forms explained

Taxdoctor provides a plain English explanation of the main types of forms you will come across when you are completing your tax return. They are split into categories to make it easy to follow, Forms given to you by your employer, forms you may need to sort your tax out, forms to fill in if you are from another country and forms issued by HMRC.

P60: A P60 is a form issued by your employer at the end of the tax year, it shows your total earnings and total tax paid for the year ending 5th April. It's only issued if you are in your job at the end of the tax year.
P45: A P45 is a form issued by your employer when you leave your job during a tax year, it shows your total earnings and total tax paid from the 6th April up until you finished.
Payslips: Payslips are given to you when you are paid by your employer. They usually show your gross earnings for that period and the amount of tax and NI that was deducted from you during that period.
Statement of earnings: Companies aren't allowed to issue replacement P60's so if you lose one they need to give you a statement of earnings, it will be on their headed paper and will show your gross earnings and any tax that was deducted in that tax year.

P50: This is an official HMRC form that you would fill in to claim a tax refund if you have stopped working in the current year. You would need to put on it your personal details and any earnings you may have had since leaving the employer concerned. You don't need to use this form though we can show you how to claim your own tax refund.
P46: This is an important form when you start a new job. If you haven't been able to provide your new employer with a P45 from your old job then you will need to complete a P46. IT gives HMRC details about your current employment. It will enable them to issue you with a new notice of coding so you can be put on the correct tax code and have he proper tax deducted from your wages.

P85: If you're about to leave the UK after being here for work then this is the form for you. It gives HMRC details about your time in the UK and whether you plan to work. Like the P86 it's important for you to complete this if you're claiming a refund
P86: If you've entered the country from abroad then you need to fill this in to inform HMRC about your details of entry. It will ask you where you've come from and how long you intend to stay in the UK

Notice of coding: Once you have completed the P46 (see above) then HMRC can issue you with your new tax code. This will be summarised on a “notice of coding” which would come to you in the post. It will be specific for a particular tax year and it will show the code that your employer should be using. The notice pulls together your allowances and any other benefits and expenses that may be taxable.
Self Assessment tax return: If you register as self employed or inform HMRC that you now have income from other sources that PAYE then you will be issued with a tax return sometime after the tax year ends. You must include on this return all your income from all sources and any expenses and tax reliefs you wish to claim. taxdoctor can help you with our unique self assessment tax return service