With the tax season coming to an end, it’s the best time to apply to reclaim any tax you may have overpaid in the last tax year. You can apply to get tax back from the past four tax years, if you haven’t done so already. If you’re looking to put in a claim, you’ll need a P60.
What is a P60?
A P60 is a tax form also known as an “End of Year Certificate”. It contains a summary of your pay and tax details for the tax year, which runs from 6 April to 5 April the following year.
The person or company who employs you on the last day of the tax year is responsible for giving you your P60 by 31 May – either on paper or electronically. This form is necessary to claim back overpaid tax and complete your Self Assessment tax return; it also serves as proof of income if you’re applying for a loan or mortgage.
If your employer hasn’t given you a copy of your P60, you need to ask them for it as soon as possible.
Here’s an example of the P60 End of Year Certificate:
Got your documents? Get your tax back
Once you’ve received your P60, you can start the process of reclaiming your overpaid tax. There are a few things you’ll need to do before you can start the claim process:
- Use a tax rebate calculator to check whether you’re due a refund
- Find out the details of any taxable benefits and taxable income you received
If you worked for an employer for part of the tax year and are not still working for them on 5 April, you will receive a P45 instead of a P60. This form is usually given to you on your final day of employment and it can also be used when claiming tax refund.
If you have misplaced your P45 or P60, you can either contact a tax agent to track down the forms on your behalf or you can request a statement of earnings from your previous employer.
When you’ve got all of the required documents, you can apply for your tax refund. If you’d rather skip the paperwork, 1st Contact Tax Refunds can lodge the claim on your behalf. We’ll even source any missing tax documents for you.