APPLYING FOR A TAX REFUND
When you apply for a tax refund, you’ll need certain forms in order for everything to run smoothly. These UK tax forms are usually given to you by your employer or sent to HMRC , depending on your circumstances. The most popular forms are P45 and P60.
P45 FORM
A P45 form is given to you by your employer when you stop working for them.This is a statement of your pay and the tax to date deducted by your employer. It is an important document and you need it if:
You are changing job – to give to your new employer in order to avoid paying emergency tax
You are unemployed – to claim a tax refund, to claim social welfare benefits
A P45 has four parts (Part 1, Part 1A, Part 2 and Part 3). Your employer sends Part 1 to HM Revenue & Customs (HMRC) and you hold on to the other parts. You will then give parts two and three to your new employer (or to Jobcentre Plus if you’re unemployed). Part 1A must be kept safe for your own records.
If your employer does not give you a P45 you should ask for it.
P60 FORM
Your P60 form can be paper or electronic. It is a statement of your pay and of the tax deducted by your employer during the tax year (6 April to 5 April). This form is also used to calculate how much tax you paid and needs to be submitted in order to claim back overpaid tax, to apply for tax credits, or to provide proof of your income if you apply for a loan or mortgage. Your employer must give you a P60 within 6 weeks of the end of each tax year (dead line 31st of May).