p60

P60 is a term used in payroll and taxation contexts to denote an annual summary of pay and deductions. It is most closely associated with the United Kingdom, where it is used to document earnings, income tax, National Insurance contributions, and other deductions for the tax year. A P60 provides a record of tax paid and is commonly used for verification of income by lenders, landlords, or government agencies.

In the United Kingdom, a P60 is typically issued by an employer to employees who were on the payroll on the last day of the tax year. The document lists total gross pay for the year, the amount of income tax paid, National Insurance contributions, and any other statutory deductions. It is usually provided after the end of the tax year and retained by the employee as part of their financial records. While not a tax return, the P60 serves as official evidence of earnings and tax history.

In the Republic of Ireland, Form P60 serves a similar purpose as a year-end payroll certificate. Employers issue it to employees and it details total pay and the taxes and social contributions paid over the tax year, including PRSI and USC. The P60 is used to verify tax paid and can support applications for credits, loans, or other financial matters.