sippdeal just sent me a P60

shoi

badger09 wrote: »

Well somebody is clearly confused. P60s are not to be handed to new employer, P45 is the form for that :cool:

But it just can't be right to use a form which says I'm an employee. I dunno maybe I could use it to claim stuff I don't have any right to. HMRC website says employers hand it to employees, the form itself makes that abundantly clear. There must surely be a better way of giving me the figures I need for my next tax declaration than this madly inappropriate document.

noh

shoi wrote: »

But it just can't be right to use a form which says I'm an employee. I dunno maybe I could use it to claim stuff I don't have any right to. HMRC website says employers hand it to employees, the form itself makes that abundantly clear. There must surely be a better way of giving me the figures I need for my next tax declaration than this madly inappropriate document.

It seems logical to me.
Pensions are subject to PAYE.
The pension provider is obliged to set up a payroll system to deal with the deduction of tax and as part of that they are obliged to issue a P60.

lejog2003

badger09 wrote: »

Well somebody is clearly confused. P60s are not to be handed to new employer, P45 is the form for that :cool:

Yes, having transferred my SIPP in Drawdown from Hargreaves Landsdown, they quite correctly sent me a P45 for my own records and to send on to ATS.

I was however faintly amused by HL "firing me" after all the hassle they caused.

Your pension provider is responsible for deducting PAYE from your pension and (if you have no other employer) administering your tax code. HMRC just regard them as your employer.

On this basis I assume HMRC regard DWP as the largest employer in the country!

noh

lejog2003 wrote: »

...........................

On this basis I assume HMRC regard DWP as the largest employer in the country!

No because state pension payments are not subject to PAYE.
http://www.hmrc.gov.uk/pensioners/pension-statepension.htm