What is a P46 form and when do you need one?

The P46 tax form is very important as it ensures you pay the correct amount of tax when starting a new job. This is a key piece of documentation that any professional, at any stage of their career should be aware of and understand. No one wants to pay more tax to HM Revenue & Customs (HMRC), so at the beginning of the tax year, if you haven’t already and need to, make sure that your P46 is ready and filled out when you begin your new role.

What is a P46?

A P46 is a form that takes the place of a P45 if you don’t have one from a previous employer. It is a tax form that ensures you pay the correct amount of income tax from your pay. If you don’t provide a P45 to your employer or don’t fill out a P46, you will normally be taxed at an emergency rate, which means you may be overpaying on your monthly income tax. 

If you want to speak to an expert about your tax obligations, contact HMRC today, or visit their website here.

When do you need a P46?

The most likely reasons you will require a P46 form are as follows:

• You are starting your first role.
• You are starting a second job, and are still employed with your current employer.
• You can’t give your new employer a P45 form.

It is important to note that if you do need to provide your employer with a P46 form, it is your responsibility and your employer won’t fill one out on your behalf. Speak to the human resources team to discuss the new starter checklist, it is likely that they will keep a record of all employees P45 and P46 forms.

What do you need to fill out your P46?

The information that you’ll need to have available to you whilst filling out your P46 is as follows:

• Basic personal information/details.
• Details around your financial information (student loan repayments/Jobseeker’s Allowance).
• Tax code details.

How do you get a P46?

Once you begin your first day in your new role, your employer will provide you with a P46 if you cannot provide them with a P45 from a previous employer. Once you’ve filled out the entirety of your P46 form, your new employer will then be able to pass on your information to the tax office, so they can apply the correct tax code to your account prior to your first pay. 

Filling out your tax forms is an easy task and one that should take priority when you begin your new role, particularly if you don’t have a P45 already. 

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