What is a P45?
P45 is the reference code of the “Details of employee leaving work” tax form. It’s an essential Pay As You Earn (PAYE) form.
A P45 contains useful information such as the tax code applicable to you when you left your previous job, your National Insurance number and any student loans you may be still paying off.
When do you get a P45?
As an employee in the UK, you'll be given a P45 by your employer whenever you leave employment, usually shortly after your final payslip has been issued.
This document can be sent to you via email or in the post.
If your employer uses Onfolk for payroll, you'll receive your P45 on the email address you've set as the one to receive payslips to.
Your P45 will be sent with your last payslip. This will be on your final payday (as long as your employer runs payroll on time).
It can't be sent any earlier, as before payroll is confirmed the numbers could change.
If you haven't received your P45 after your final payday, you can email your employer directly and ask for a duplicate too 👍
Why is a P45 important?
It is the law for every employer to issue P45 for every leaver, whatever the reason they've left their employment.
Secondly, your P45 is the document used to work out what your tax code should be applied to your income with your new employment.
What to do if you don't have a P45 when starting a new job?
The main pieces of information you'll need for your Onfolk account are your tax code, NI number and if you have any student loans.
If you don't have a P45 when you join a new company or when you're completing your onboarding with Onfolk, it may be a bit harder for us to work out how much tax you'll be paying on your salary.
This means you may be put on an emergency tax code until we find out what tax code you are on.
Don't worry though - your tax code will be backdated and the tax you'll have paid while on emergency taxation will go towards the total amount of tax you owe for the year. You won't pay more tax than what is due on your income when you're on the correct tax code.
The difference between a P45 and a P60
A P45 is different from a P60 form. A P60 is an end-of-year summary of your income, tax deductions, and NICs for a specific tax year. A P45, on the other hand, is a document you receive when you leave a job. It provides details about your income and tax deductions up to the point of leaving that job. You'll need to give your P45 to your new employer to ensure you're taxed correctly in your new position.
FAQs
Where can I find my P45 in Onfolk?
In Onfolk you'll find your P60 in the Documents section of your profile - link here.
I haven't received my P45 or my P45 is late
If your employer used Onfolk for payroll and you haven't received your P45, get in touch with your employer or with us at [email protected].