Printable P 45 It Form

Here are some important points to remember when filling out and using the P45 form:

• Understand the Parts: The P45 form consists of three parts: Part 1, Part 1A, and Part 2. Each part serves a specific purpose for the employer and employee.
• Complete with Care: Use capital letters and ensure all details are accurate, especially the employee’s National Insurance number and PAYE reference.
• Timely Submission: Send Part 1 of the P45 to HM Revenue & Customs (HMRC) immediately after an employee leaves. This helps maintain accurate tax records.
• Distribute Parts Properly: Provide Parts 1A, 2, and 3 to the employee when they leave. They will need these for future employment or tax purposes.
• Keep It Safe: Employees should keep Part 1A safe, as copies are not available. This part may be needed for tax returns or if they claim benefits.
• Emergency Tax Codes: If the employee does not provide Parts 2 and 3 to their new employer, they may be placed on an emergency tax code, which could result in overpayment of taxes.
• Seek Help if Needed: If there are any questions or concerns about filling out the form, contact HMRC or visit their website for assistance.

What is a P45 form and when is it issued?

A P45 form is an important document that an employer provides to an employee when they leave a job. It contains details about the employee's tax situation, including their total earnings and the amount of tax deducted during their employment. The P45 is typically issued on the employee's last working day and consists of four parts, with each part serving a different purpose. It is crucial for employees as they may need this information for tax returns or when starting a new job.

What should I do with my P45 once I receive it?

Once you receive your P45, it’s essential to keep it safe. You should retain Part 1A for your records, as it may be needed for future tax purposes. Parts 2 and 3 should be given to your new employer if you start a new job. This ensures that your new employer can process your tax correctly and prevents you from being taxed at a higher rate. If you don’t want your new employer to see your earnings or tax details, you can send the P45 directly to HM Revenue & Customs (HMRC) with a letter explaining your situation.

What happens if I lose my P45?

If you lose your P45, don’t panic. You can request a replacement from your previous employer, who is required to keep records for a certain period. If your employer is unable to provide a replacement, you may need to contact HMRC for guidance on how to proceed. You can still start a new job without the P45, but your new employer might have to use an emergency tax code, which could result in you paying more tax initially. Once you receive the correct information, you can claim any overpaid tax back from HMRC.

How does the P45 affect my tax when starting a new job?

The P45 directly impacts how much tax you pay when you start a new job. If you provide Parts 2 and 3 of the P45 to your new employer, they will use the information to set up your tax code correctly. This helps ensure that you are taxed at the right rate from the beginning. If you do not provide your P45, your new employer may have to apply an emergency tax code, leading to higher deductions until your tax situation is clarified. Therefore, it’s in your best interest to handle your P45 promptly and accurately.

P 45 It - Usage Instruction

Filling out the P45 form requires careful attention to detail. This form is essential for both employers and employees when an employee leaves a job. After completing the form, ensure all parts are distributed correctly to avoid any issues with tax records.

1. Employer PAYE reference: Enter your PAYE reference in the designated box.
2. Office number: Fill in the office number associated with your business.
3. Reference number: Provide the reference number for the employee.
4. Employee's National Insurance number: Write the employee's National Insurance number clearly.
5. Title: Indicate the employee's title (MR, MRS, MISS, MS, etc.).
6. Surname: Enter the employee's surname or family name.
7. First or given name(s): Fill in the employee's first name(s).
8. Leaving date: Specify the date the employee is leaving (DD MM YYYY).
9. Total pay to date: State the total pay the employee has received up to the leaving date.
10. Total tax to date: Enter the total tax deducted from the employee's pay to date.
11. Employee’s private address: Fill in the employee's address, including postcode.
12. Works number/Payroll number: If applicable, provide the works or payroll number.
13. Gender: Mark the appropriate box for male or female.
14. Date of birth: Enter the employee's date of birth (DD MM YYYY).
15. Certification: Sign and date the form to certify that the information is correct.