What is a P45?

A P45 is the form an employer gives an employee when he or she leaves their job. A P45 details the salary paid to date in that tax year, the total tax deducted and the final tax code.

Your P45 is important because it contains all the information your next employer will need when you start a new job. With an up to date P45, your new employer will be able to deduct the correct amount of tax from your wages for the rest of the tax year. You will only be given a P45 when you leave your job; otherwise your employer should be giving you a P60 at the end of every tax year.

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