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P60

Discussion in 'Personal' started by Lalaland05, Jul 16, 2019.

  1. Lalaland05

    Lalaland05 New commenter

    hi everyone,

    Just got my p60 and there is a star next to tax deducted frok current employment.

    It then says - the figures marked * should be used for your tax return, if you get one.

    What does that mean?
     
  2. Ivartheboneless

    Ivartheboneless Star commenter

    It means that the HMRC can send you a form to fill in declaring all your income over the tax year from any source just to check that you are not cheating them out of 50p. Normally when you are on PAYE that does not happen as your employer and HMRC assume you have no other source of income besides your job. A copy of your P60 will have been sent to HMRC anyway.
     
  3. oldsomeman

    oldsomeman Star commenter

    Please make sure you keep your copy of it safe.Its one of those forms you dont always want but can never find when you might need it.You might like to scan it to your saving place on your computer as well. It shows what tax you have paid and can be used in a dispute withe IR.
     
  4. BelleDuJour

    BelleDuJour Star commenter

    If you do lose it you can write to IR and they can send you a statement of tax paid.
    If IR don't know then who does????
     
  5. frustum

    frustum Star commenter

    I have a vague memory that when I did the most recent tax return, the starred figures were pre-filled anyway.

    Anyway, you don't need to worry about it unless you have to do a tax return.

    HMRC are actually remarkably efficient. I used to have two jobs, with my tax allowance split between them, and when I quit one of them I had overpaid tax by 8p (the salary had gone up after I'd told them how to split the tax allowance). I got that 8p back in the payslip for my other job the next month!
     
  6. Mangleworzle

    Mangleworzle Star commenter

    If you don't have any other form of taxable income, you can ignore it.

    If you do, then you should be filling in a separate tax return to declare the other income, you should be aware of if that is the case (?).
     
  7. Duke of York

    Duke of York Star commenter

    I had to do a refresher first aid course yesterday. There were another 10 people in the room doing the course. The person running the course asked everyone what they did and the younger woman sitting next to me said she was a tax advisor.

    I asked her when it was best to use a tack in preference to a nail. She looked blankly at me. The others smiled and explained it was a play on words, but she didn't get it. Apparently youngsters have never heard of tacks.
     
    agathamorse likes this.
  8. oldsomeman

    oldsomeman Star commenter

    Why should they when you use such an obtuse question unrelated to first aid? Not all understand the digs you make at institutions.
     
    LondonCanary likes this.
  9. Duke of York

    Duke of York Star commenter

    ???
     
  10. peakster

    peakster Star commenter

    I have to fill in a tax return every year now because of my tutoring income. First time I did it - it took me ages but it's really not very difficult.

    Put your P60 somewhere safe in case you ever need it.
     
  11. foxtail3

    foxtail3 Star commenter

    I never understood whyHMRC decided that I owed them £1800 when I had always been on PAYE.
     
  12. HelenREMfan

    HelenREMfan Star commenter

    When the government (forget which one) decided it could make numbers of IR tax inspectors redundant, we were then made to complete our own tax returns so doing the work for them. You usually only have to complete one if you receive money from a source other than PAYE employment. So I have to complete a tax return with an insert to cover money earned from investment property.
     

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