P45 Part template
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The P45 template is a document used in the United Kingdom to provide information about an employee who has left their job. It contains details about the employee’s earnings and tax contributions while they were employed, as well as their reason for leaving. The P45 is issued by the employer and is handed over to the employee when they leave their job.
The P45 template has four parts, each of which is given to a different party:
Part 1A is sent to HM Revenue and Customs (HMRC) by the employer. It provides details of the employee’s tax code and the total amount of tax deducted from their earnings during the tax year.
Part 1B is for the employee’s records. It contains information about the employee’s earnings and tax contributions while they were employed, as well as their National Insurance number and other personal details.
Part 2 and Part 3 are given to the employee to hand over to their new employer. Part 2 provides information about the employee’s tax code and the total amount of tax deducted from their earnings during the tax year. Part 3 provides information about the employee’s previous earnings and tax contributions.
The P45 template is an important document for both employees and employers as it ensures that the correct amount of tax is deducted from an employee’s earnings and prevents overpayments or underpayments. It also provides a record of an employee’s employment history, which can be useful for future job applications or reference checks.
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