P60 Figures

[JamieAllen]

Very simple for all the accountants on here I'm sure...

P60. If you've had two employments in the year, both the 'previous employment' and 'in this employment' boxes will contain figures creating the total for the year. The 'in this employment' boxes are asterixed and the notes on the P60 form states " the figures marked * should be used in your tax return".

So am I missing something? Why wouldn't the total earnings/tax for the full year be included on your tax return? The figures marked with * are only the current employment figures?

 

[elaine@cheapaccounting]

You complete a separate form for each employment - so both are included but on a separate sheet

 

[David Richards]

Why wouldn't the total earnings/tax for the full year be included on your tax return? The figures marked with * are only the current employment figures?

Although I've never had to fill one out myself, I'm guessing that on your tax return you need to fill in the amounts for each individual job that you had that year. Or that you have to add up the amounts yourself (using the figures on the P60 and from part 1a of the P45 you got when leaving your other jobs) in case the P60 doesn't reflect the full picture.

 

[Tom McClelland]

You can't guarantee that your final employer of the year actually knew about all of your jobs during the year. Take the case for example of someone with more than one job, who might get 2 P60s at year end. Or someone who leaves one employment near the end of the year, and starts at the new place with a P46 because they lost their P45.

So it is up to you to correctly include the pay and tax for each job on your SA return. Your P60 is only a guide when doing this, not the final word, which is up to you to declare to the best of your ability.