What is a P45 and what do you do with it?

Full answer

A P45 (formally "Details of employee leaving work") is issued by your employer when you leave or are made redundant. It is a legal requirement under PAYE regulations — your employer must give it to you on or before your last day. **The four parts of a P45:** - **Part 1:** Sent to HMRC by your employer automatically. - **Part 1A:** Your copy — keep it for your records. - **Parts 2 and 3:** Give these to your new employer (or Jobcentre Plus if claiming benefits). The new employer sends Part 3 to HMRC and retains Part 2. **What it contains:** Your tax code on leaving, total pay to date in the tax year, total tax deducted to date, your NI number, and your employer's PAYE reference. **If you don't get a P45:** Your employer is legally obliged to issue one. Chase them in writing. In the meantime, give your new employer a completed Starter Checklist (the form that replaced P46) so they can determine the correct initial tax code without a P45. Without either document, you may be placed on an emergency tax code (1257L W1/M1) which could lead to overpayment or underpayment of tax. **P45 vs P60 vs P11D:** - **P45:** Given when you *leave* a job (current-year pay and tax to date). - **P60:** Given by your employer by 31 May each year showing *annual* pay and tax for that tax year (only if still employed at 5 April). - **P11D:** Reports benefits in kind (company car, private medical insurance) for the tax year. **Losing your P45:** HMRC no longer issues replacement P45s — your employer should hold the data, or you can check your Personal Tax Account on gov.uk for pay and tax information.

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