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Inaccurate P60s can lead to tax liabilities

12th August 2020

As an employee most of us would assume that the P60, P11D and P45 forms provided to us by our employer are always correct, but please do not be fooled because it is not always so. Unfortunately, there are some situations where employers issue their employees with inaccurate P60s. 

The situation gets worse when the employee relies on these figures to file a self-assessment tax return. If wrong information is reported to HMRC i.e. earnings, tax deducted or undeclared benefits, the taxpayer can find themselves in the position of being issued penalties for a careless inaccuracy. Whilst it seems unfair for a person to be charged a penalty if they received incorrect forms from their employers, HMRC can argue that it is ultimately the taxpayer’s responsibility to ensure the figures submitted are correct. 

In conclusion, you should not assume the amounts included in the P60s or P11Ds prepared by the employers are correct. Instead you should check your P60 by comparing it with your payslips for the year.  Your final payslip for the year will include the year to date figures and these should match with the P60.  If you discover a discrepancy make sure you raise it with your employer so that it can be corrected.  As a reminder, your employer is legally required to provide you with a P60 by the 31st May each year so contact your HR department if you have not received it by then.