Glossary · UK
What is P45?
Form given when leaving a job, showing pay and tax deducted in the current tax year.
Full Definition
A P45 is a four-part form your employer must give you when you leave a job. It shows your tax code, total pay and total tax deducted in the current tax year up to your leaving date. You give Parts 2 and 3 to your new employer so they apply the correct tax code (avoiding emergency tax). If you don't have a P45, your new employer must ask you to fill in a Starter Checklist instead, which may temporarily put you on an emergency tax code.
See Also
Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.