A P45 is an important document provided by your employer when you leave a job. It details your earnings and the tax you've paid during the current tax year.
When starting a new job, your new employer uses the P45 to ensure your tax is calculated correctly. If you don’t have a P45, whether due to a delay, it being lost, or because you’re entering the workforce for the first time, there are steps you can take to make sure your tax affairs are in order:
Complete a Starter Checklist (Previously Known as P46):
- Horizons will ask you to fill out a Starter Checklist, which serves as a replacement for the P45. This form collects essential details about your employment history and current situation.
- The information you provide on the Starter Checklist helps Horizons assign the correct tax code to ensure you pay the right amount of tax.
Inform Horizons:
- Notify your new employer as soon as possible that you don’t have a P45. They will guide you through the process and use the Starter Checklist to determine your tax code.
Monitor Your Payslips:
- After submitting the Starter Checklist, regularly check your payslips to make sure your tax code is correct and that your tax deductions appear accurate. If anything seems off, contact [email protected]
Contact HMRC if Necessary:
- If you encounter issues with your tax code, deductions, or obtaining your P45, contact HM Revenue & Customs (HMRC) for assistance. They can help ensure that your tax affairs are in order and that you’re paying the correct amount of tax.
By following these steps, you can ensure that your tax is handled correctly even without a P45, helping you avoid potential issues with overpayment or underpayment of taxes in your new role.
