P60 query please

bungalow_bill

Hi , not sure if this is the right board, but would be grateful for advice.

I started new job in Feb this year, but new company didn't register P45 in time so I went onto the wrong tax code. I've sorted that now, but when my P60 arrived from new company, there is only 2 months pay on it.

I've asked old company if they are supposed to provide P60 for my time with them, but they say as I was with new company in April, its nothing to do with them, and new company should have included total earnings in p60.

2 questions: does this matter? If my P60 is incorrect what are the consequences of this.

Also, how do i go about getting it right? New company seems useless, old company doesn't want to know, and can't face the queue on the tax helpline.

Any advice much appreciated, thanks

CLAPTON

you get a P45 when you leave your 'old' employer and you get a P60 from your existing employer at tax year end

if you total tax for the year was wrong then you need to contact the HMRC with the details

if you are unsure then post up the P45 and the P60 figures and we can check them for you.

suso

bungalow_bill wrote: »

Hi , not sure if this is the right board, but would be grateful for advice.

I started new job in Feb this year, but new company didn't register P45 in time so I went onto the wrong tax code. I've sorted that now, but when my P60 arrived from new company, there is only 2 months pay on it.

I've asked old company if they are supposed to provide P60 for my time with them, but they say as I was with new company in April, its nothing to do with them, and new company should have included total earnings in p60.

2 questions: does this matter? If my P60 is incorrect what are the consequences of this.

Also, how do i go about getting it right? New company seems useless, old company doesn't want to know, and can't face the queue on the tax helpline.

Any advice much appreciated, thanks

Do you actually need the information? (for tax credits, student finance, mortgage application) If not then there's nothing to worry about.

You receive one of two documents showing tax paid.

A P60 - issued by any employer that you are employed by on April 5th (he last day of the tax year)
A P45 - issued when you leave a job, this shows your pay and tax within that particular employment.

It can be correct that the P60 shows only 2 months pay if you only worked for them 2 months in the tax year.

Did you ever receive a P45 when you left the previous company.

If you didn't then you have 2 options , request a statement of earnings from your previous employer, this will show your total pay and tax for your time with them in 2009/10, or a P45 (if they have already issued a P45 then they cannot issue a duplicate)

The other option is, if your previous employer has sent the end of year return into HMRC, request then to send to you a letter with your pay and tax details for 2009/10

chrismac1

There is a potential problem for you if the new company had you on the wrong tax code at 5 April. So long as your leaving tax code on the P45 was correct - probably 647L - and your final tax code on the P60 was correct - hopefully 647L - then all is well.

If your P60 tax code was BR or 647 M1 then you'll have paid too much tax.

bungalow_bill

suso wrote: »

Do you actually need the information? (for tax credits, student finance, mortgage application) If not then there's nothing to worry about.

Did you ever receive a P45 when you left the previous company.

If you didn't then you have 2 options , request a statement of earnings from your previous employer, this will show your total pay and tax for your time with them in 2009/10, or a P45 (if they have already issued a P45 then they cannot issue a duplicate)

The other option is, if your previous employer has sent the end of year return into HMRC, request then to send to you a letter with your pay and tax details for 2009/10

I didn't think I would need P60, but just applying for mortgage now. That's when I realised the error. In the end I could send 3 months payslips so got through that, but I'm not sure if a simialr scenario will come again when I need it.

I did receive P45 from old company, but new company lost it, and didn't inform HMRC. Hav em,anaged to sort tax codes etc so all is correct, but P60 the only thing that is wrong. Just don't know if its going to be an issue in the future, and if so perhaps I should correct it all now

suso

chrismac1 wrote: »

If your P60 tax code was BR or 647 M1 then you'll have paid too much tax.

Ignore this fools advice,

To say that you have definately overpaid tax if you were on either of these codes is wrong, without knowing the codes you were on, and your pay and tax details NOBODY can say if you have overpaid or under paid.

As clapton said post the figures and someone knowledgable will check them for you, don't go off scaremongers who say you have overpaid tax without knowing the facts.

Did you keep your copy of the P45 - Part1a, that should be good enough for the mortgage company, or if you do need proof of the earnings give HMRC a call

mlz1413

Bungalow Bill your old company should have sent you, the HMRC and the new company a copy of your P45 with your earnings to date shown - this will be the same as your last payslip from them.

Your new company should have entered the details of the P45 into the 'previous earnings' box when they added you as an employee.
IF the old company sent the P45 late then new company should have got you to fill in a P46 and tick the relevant statement (school leaver / only job / receive other income).

It appears the new company have not entered the previous earnings so when you got your P60 it only has the Feb & Mar earnings from them.

The old company should have submitted your P60 to HMRC but have do not send you a copy.

As clearly the new company's payroll section is not doing a brilliant job I would write to your local tax office and attach copies of the P45 and P60 from each company and ask them if they can advise what you should do.

Re your mortgage application a copy of the last 3 payslips from each company should copies of you bank statements should be enough for the lender to see you have been earning a monthly pay and its an admin error.

Mikeyorks

mlz1413 wrote: »

I would write to your local tax office and attach copies of the P45 and P60 from each company and ask them if they can advise what you should do.
.

But why do that? For most purposes it is the P60 figure (tax Return etc) that is needed - and not the physical P60. So rather than troubling anyone needlessly - you simply add the P45 / P60 figures together yourself - job done?

The OP appears to have stumbled across the one exception (Mtge application) already that does need the physical document - and has circumvented it.

mlz1413

OP doesn't have to.

I suggested it as I would probably do this to ensure that the HMRC have the correct value for the year. But as HMRC are currently in a bit of a pickle would it just raise questions were none are needed.... maybe.

If OP paid tax on the same code for Feb and Mar then he has probably paid the correct amount of tax for the year, he aslo says that this years code is now correct which would mean by April the correct tax amount will be paid. So unless OP thinks he had paid incorrectly its personal choice to check with HMRC.

Mikeyorks

mlz1413 wrote: »

I suggested it as I would probably do this to ensure that the HMRC have the correct value for the year.

HMRC will have P14s for that year from both employers - so the aggregate should be OK.

mlz1413

my worry would be the old employers only ran current employees P14/P60's as its only the current they have a liablility to handout.