PAYE Form Numbers Explained
There are many forms out there related to tax and pay as you earn, and these all start with the letter 'P'.
Probably the most famous of these forms is the P45 which is the one most people are likely to know, as it is associated with redundancy or being sacked as it is the slip you get given when you leave employment with a company.
P45
The P45, then, is a record of your pay and tax so far in the current tax year. As for a P46, well that's what you fill in if you've lost your P45 so at least it's logical in a way!
P60
This is probably the second most known form after the P45 as anyone in employment should receive one of these automatically once per year from their employer.The P60 is simply a record of the pay and tax that has been deducted from your pay in the tax year; you should get this around April time. It is important that you keep this for proof of income and in case of any queries that arise with the tax that you pay or claims you make and so on. Commonly when applying for a mortgage the mortgage provider might ask to see your P60 as proof of income that you've received.