Why don HM Revenue & Customs know my earnings?
Your P60 is the summary of your pay and the tax that’s been deducted from it in the tax year. Your employer should give you a P60 to keep as a record at the end of every tax year (which runs from 6 April to 5 April the next year). If your employer doesn’t give you a P60 at the end of the tax year, ask for it – you’re entitled to it by law if you are still working for the employer at 5 April. You might need it: to complete a Self Assessment tax return, if this applies to you to claim back any tax you’ve overpaid to apply for tax credits The other form you have is your tax return, which give HM Revenue more information on your situation to determine whether you apid enough tax and other contributions, and to claim back (potentiallyu) any overpayment. I suppose it is a form of intelligence test, since this is pretty basic personal finance.
