Lost p60 and need replacement. A lost P60 can be a source of a lot of frustration. While it can hold up mortgage applications, stop you from filling in your tax return, or mean you leave you paying too much tax! It’s not too much of a worry if you know what to do though. Check out this guide below to see how to retrieve a copy of your P60 from your employer.
What to Do About a Lost P60
Losing your P60 is not the end of the world. If you have lost your P60, you should be able to find a replacement. There are lots of reasons why your P60 has been stolen. Perhaps you have mislaid it, perhaps someone borrowed it without your permission. Whatever the reason, it’s possible to replace your P60, so don’t lose hope.
Approach an Employer
An employer must hold onto copies of P60s for 3 years as part of their payroll record keeping. You can find out how long an employer has been holding onto a P60 by looking on their website. However, you may need to apply to see if they have a copy. If the employer does not have a copy of your lost P60, you could ask them to issue a statement of earnings. An employer is not obligated to give you a copy of a P60.
Speak to HMRC
HMRC doesn’t provide copies of the lost P60s; they can only provide official information about your earnings and deductions. If you want to find out more about your taxes, you will have to contact HMRC via their online form. It’s best to do this directly via the government’s website rather than through a private company. If you are unable to find your national insurance number, you can try asking a friend, family member or even a local tax expert.
You can call HMRC on 0300 200 3300. If you need help with this, find a different way to contact them.
A P60 form is a summary of earnings and tax/national insurance deductions during a particular tax year. The tax year runs from 5 April to 6 April. A P60 for 2018 will show earnings and deductions for April 2017 to April 2018.
Why is P60 important
A P60 is a summary of earnings and tax that can be used by any individual as they wish, but its importance depends on the person who is using it.
These are some common examples:
A mortgage lender uses it to check the borrower’s income;
To someone who is self-employed and is filling out their taxes, the P60 tells them how much tax they have already paid;
For someone claiming a refund, their P60 will prove how much tax they have already paid.