The 2023/2024 tax year ended on the 5 April 2024 which means if you were employed under PAYE that tax year you should receive a P60 end of year certificate.
Your employer or pension provider must provide you with your 23/24 tax year P60 by May 31 2024 which is the deadline HMRC gives employers to submit payroll details for that tax year.
Employers have the option to provide you with the 23/24 P60 statement either in physical or electronic format or both (so check your emails if you haven’t received yours by post by the 31 May).
If you left employment before the end of the 23/24 tax year and not returned to work before 5 April 2024 you would normally receive a P45 from your last employer and won’t receive a P60.
What will I need my 2023/2024 P60 for?
The P60 is a document that is given to employees at the conclusion of each tax year so they have a statement that displays the total amount of tax that has been deducted from their salary.
A P60 is necessary for employees to demonstrate their exact amount of earnings through PAYE and the income tax that has been deducted from their salary in a number of different circumstances.
Common reasons for needing a P60 as evidence of your income and tax deductions includes:
- If you are claiming back a tax rebate and HMRC doesn’t already have your P60 details on your record.
- You are applying for some form of finance like a residential mortgage or personal loan.
- You are applying for tax credits.
- Checking your pay and tax details to make sure your 23/24 tax code and personal allowance were correct.
Keep a copy of your 23/24 P60
It is crucial for all employees to keep their P60’s in a secure location as it serves as a significant record.
Maintaining a record of your last six tax years P60 statements would be recommended just in case you need a P60 for more than just the 23/24 tax year.
When will I get my 23/24 tax year P11D?
A P11D confirms the taxable benefits in kind you receive from your employer. The most common company benefits are probably a company car and private healthcare cover.
The P11D is helpful if you need to check your tax code to make sure that the correct benefit values were included in your 23/24 tax year tax code.
You will also need to know your 23/24 tax year P11D company benefit values if you need to complete a self assessment tax return for that tax year.
An employer can provide a P11D digitally or in a physical format but unlike the P60 your employer doesn’t have to give you a copy of your P11D.
You can ask your employer for how much the benefit(s) you received were worth if you haven’t been given a P11D.
I have lost my 23/24 tax year P60 can I get a copy?
If you need a copy of your 23/24 tax year P60 or P11D or P45 you can usually get a copy from your employers payroll department or by using the HMRC app or your personal tax account.
You should be able to view and print a copy of multiple tax years pay and tax information and you can also contact HMRC directly if all else fails who should be able to post out a copy of the P60 details you need.
Check your 2023/2024 P60 figures
When you get your 23/24 P60 it’s worth double checking that the figures are correct.
You can check your total gross pay, total tax paid and your final tax code from your P60.
If any of the above figures are not what they should have been during the tax year you could be in a position of paying too much tax and may need to follow this up with HMRC.
Fixing any issues can also help make sure that your personal allowance for the 24/25 tax year and tax code are right for the current tax year.
