One in three people are due a tax refund, yet millions of Pounds lie unclaimed at HMRC. One of the reasons people don’t claim is because they believe their misplaced documents disqualify them from a tax refund. The truth is, locating your lost tax forms is the easiest trick of all.
If you’re hoping to apply for a tax refund but are missing your P45s and P60s, there’s no reason to fret. Even if the company you worked for has closed down, HMRC lets you claim for a period of up to four years – irrespective of whether or not you still have your original P45s and P60s. But before we even talk about applying for new forms, here’s a quick run-down of your P45 and P60. If you still think you’ve misplaced them, get in touch with one of our consultants for a replacement.
The P60 is issued at the end of the tax year when you are still in employment. It shows your pay for the year, tax code, NI number, the tax paid by you and so on – all the information HMRC needs to ascertain whether or not you are due a refund and exactly how much is owed to you.
The P45 is a similar form, given to you when you leave employment. The main difference is that it contains the same financial information – but from the start of the tax year to the date you leave the company.
Tracking down your missing forms
There are a number of things you could do if you are missing these forms. Firstly, a 1st Contact Tax Refunds consultant can track down the forms on your behalf through various channels. They will locate them through your previous employers and/or through the tax office.
Should it not be possible to locate these documents, you could request a Statements of Earnings from your previous employer. Again, one of our consultants can assist you with this. Once you have these, simply fill out the short online application to request a Claim Pack, then complete your Claim Pack and send it back to us. We’ll take it from there.