A p45 is a document you should receive from your previous employer detailing the amount of tax that you have paid on your salary so far if you do not have a p45 your new employer should ask you to fill out a p46 form it is important that this form is filled out correctly to ensure that you will pay the right level of tax.
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About P45 Form
The P45 Form is a document used in the United Kingdom to keep a record of an individual's employment and tax details when they leave a job. It is provided by employers to employees upon termination of their employment. The P45 Form consists of four parts, each sent to different recipients. Part 1 is sent to HM Revenue and Customs (HMRC), while Parts 1A, 2, and 3 are given to the employee. It contains important information such as the employee's tax code, taxable income, and other relevant details. The P45 Form is required for various purposes, mainly for individuals who start a new job after leaving their previous employment. The new employer uses this form to ensure accurate tax deductions based on the employee's previous income and tax code. In addition, individuals may need a P45 Form when applying for benefits or claiming tax refunds. Therefore, employees who leave their job in the UK and are planning to start new employment soon or require details for tax purposes would typically need a P45 Form.
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