Raju Gajurel

Published entries

8/19/2026

P45, P60 and P11D Explained: The Three Payroll Forms Every UK Employee Gets

P45, P60 and P11D Explained: The Three Payroll Forms Every UK Employee Gets P45, P60 and P11D Explained: The Three Payroll Forms Every UK Employee Gets Key Takeaways What Are the P45, P60 and P11D? What Is a P45 and When Do You Get One? What Is a P60 and When Do You Get One? What Is a P11D and When Do You Get One? How Do You Get a Copy If a Form Is Missing or Wrong? Frequently Asked Questions What is the difference between a P45 and a P60? Can I get a replacement P45 if I lose it? Do I always get a P11D? Who gets these forms? Why do I need to keep my P60? What should I do if the tax on my new payslip looks wrong? Conclusion Payroll Forms and PAYE Support From Taxule In short: P45, P60 and P11D are employee payroll forms issued by your employer. According to GOV.UK, you get a P45 when you stop working for an employer, a P60 if you are still employed at the end of the tax year, and a P11D if you receive company benefits. Your employer reports the same information to HMRC. If you are an employee in the UK, your employer tells you about your taxable income using a small set of standard forms, and the three you are most likely to meet are the P45, the P60, and the P11D. Each one covers a different moment: leaving a job, reaching the end of the tax year, and receiving benefits on top of your salary. Get to know them and it becomes far easier to check you are paying the right tax and to prove your income when a lender or the taxman asks. This article explains, in plain language, what each form is, when you get it, what it shows, and how to get a replacement if it goes missing. One thing to note at the outset: these are employee forms, so if you are self-employed you will not receive them. You get a P45 when you stop working for an employer, a P60 if you are employed on 5 April, and a P11D if you receive company benefits. Your employer gives you these forms and reports the same information to HMRC. A P45 shows your leaving date, your pay and tax from 6 April to the date you left, and your tax code. A P60 shows the tax paid on your salary for the whole tax year (6 April to 5 April) and must reach you by 31 May. A P11D reports benefits in kind, such as a company car or an interest-free loan. If a form is lost, you can usually find the details in your Personal Tax Account or the HMRC app. They are three employee forms your employer uses to report your taxable income, each covering a different event: leaving a job, the tax year end, and receiving company benefits. Between them they give a full picture of what you earned and the tax deducted. You get a P45 if you stop working for an employer, a P60 if you are still working for them at the end of the tax year, and a P11D if you receive company benefits. All three are employee forms, and that boundary matters. If you are self-employed you will not receive them, and if you are an employer there is separate HMRC guidance on producing them. Because your employer sends the same figures to HMRC, these forms are the documents you use to check that what has been reported matches what you were actually paid. You get a P45 when you leave a job. It shows your leaving date, your pay and tax from 6 April to the date you left, and your tax code. You get a P45 when you leave a job. It shows your leaving date, your pay and tax from 6 April to the date you left, and your tax code, along with personal details such as your National Insurance number. You give it to your next employer so they can work out the right tax on your pay, and if you have a paper P45, you hand over Parts 2 and 3 and keep Part 1a for yourself. If you are not working and are claiming taxable benefits, you give the P45 to Jobcentre Plus instead. If your previous employer did not give you one, ask them, because without it you might pay the wrong amount of tax in your new job. One important quirk: you cannot get a replacement P45 if you lose it. Instead you fill in HMRC's starter checklist for your new employer, and you can view your pay and tax for the last five tax years in your Personal Tax Account or the HMRC app. Your P60 is your end-of-year summary. It shows the tax paid on your salary across the whole tax year, and your employer must give it to you by 31 May. Your P60 is your end-of-year summary. It shows the tax paid on your salary across the whole tax year, which runs from 6 April to 5 April, and your employer must give it to you by 31 May. If you are working for an employer on 5 April, they must provide a P60, on paper or electronically, and you get a separate P60 for each job you hold. Your P60 is your proof of the tax you have paid on your salary, and that proof is useful in everyday situations, for example claiming back tax you have overpaid, or showing your income when you apply for a loan or a mortgage. If you have lost it, ask your employer for a replacement; if they cannot provide one, you can find the same information in your Personal Tax Account or the HMRC app, or by contacting HMRC directly. A P11D reports “benefits in kind”, extras you receive on top of salary such as a company car or an interest-free loan. Your employer might submit a P11D to tell HMRC about these benefits so the right tax can be charged. In some cases your employer instead takes the tax due on your benefits straight out of your pay, and where they do that, they do not need to submit a P11D, they will write to you to explain how it works. If you need the details of what was reported, you can ask your employer for a record of the P11D, including how much each benefit is worth. If they cannot give you one, you can contact HMRC for the information. Keeping these figures matters, because benefits in kind can affect your tax code and the overall tax you owe for the year. For a missing form, turn to your employer first, then your Personal Tax Account, the HMRC app, or HMRC directly. For an error, ask your employer to correct it, and tell HMRC if they cannot. Example: you left a job in June, started a new one in July, and your first payslip shows more tax than you expected. You check and realise your old employer never sent your P45. You ask them for it, but they say it was already issued and cannot be reissued, P45s cannot be replaced. So you fill in HMRC's starter checklist and give it to your new employer, and you look up your pay-and-tax figures for the year in your Personal Tax Account. Once your new employer has your details, HMRC should correct your tax code after your first pay, and any overpaid tax works its way back to you. The same pattern applies to the other forms. If a P45 shows the wrong pay or tax, ask your previous employer for an amended one, and if they cannot provide it, tell HMRC through the “check your Income Tax” online service so they can chase the employer. For a lost P60 or P11D, your employer is the first port of call, with HMRC able to supply the underlying information if needed. Keeping these forms safe is worthwhile, since together they are the simplest way to prove your income and check you are paying the correct tax. A P45 is issued when you leave a job and covers your pay and tax from 6 April to your leaving date. A P60 is issued at the end of the tax year, by 31 May, and summarises the tax paid on your salary for the whole year. You may receive both in the same year if you change jobs. No. A P45 cannot be reissued. Instead you fill in HMRC's starter checklist for your new employer, and you can view your pay and tax details for the last five tax years in your Personal Tax Account or the HMRC app. Only if you receive company benefits, such as a company car or an interest-free loan. Even then, if your employer taxes those benefits through your pay, they do not need to submit a P11D and will write to explain how it works. Only employees. If you are self-employed you will not receive a P45, P60, or P11D. Employers follow separate HMRC guidance for producing them. It is your proof of the tax paid on your salary for the year. You may need it to claim back overpaid tax, or as evidence of income when applying for a loan or a mortgage. Give your P45 to your new employer, HMRC should then correct your tax code automatically after your first pay. If it is still wrong, follow GOV.UK's guidance on updating your tax code. The P45, P60, and P11D are not complicated once you know what each one is for: a P45 when you leave, a P60 at the year end, and a P11D for company benefits. The employees who avoid tax-code headaches are simply the ones who keep these forms safe, check the figures against their payslips, and act quickly if something looks wrong, asking the employer first and HMRC if the employer cannot help. Treat them as useful records rather than paperwork to file away and forget, and they make it straightforward to prove your income and confirm you are paying the right amount of tax. General information based on GOV.UK guidance “Your P45, P60 and P11D form”, not personal tax advice. Confirm your own position with a qualified adviser or HMRC before acting. Not sure whether the tax on your payslip, P45, or P60 is right, or whether a P11D benefit has pushed you onto the wrong tax code? Taxule can review your figures and explain exactly what each one means for your tax position. Talk to Taxule p45-p60-p11d-payroll-forms-explained p45 p60 p11d payroll forms explained blogs Blogs blogs/p45-p60-p11d-payroll-forms-explained blogs p45-p60-p11d-payroll-forms-explained

8/19/2026

Self Assessment Tax Returns Explained: Who Must File, Deadlines and Penalties

Self Assessment Tax Returns Explained: Who Must File, Deadlines and Penalties Self Assessment Tax Returns Explained: Who Must File, Deadlines and Penalties Key Takeaways What Is Self Assessment? Who Must Send a Self Assessment Tax Return? How Do You Register for Self Assessment? When Are the Self Assessment Deadlines? How Do You Fill In and Send Your Return? How Do You Pay, and What If You File or Pay Late? Frequently Asked Questions Do I have to file even if I owe no tax? What is the difference between the paper and online deadlines? When do I need to register by? What are payments on account? How do I know how much I owe? What happens if I file late? Conclusion Self Assessment Support From Taxule In short: Self Assessment is how HMRC collects Income Tax on income that is not taxed at source. You must send a return if HMRC asks you to, tell HMRC you need to file by 5 October, file online and pay by 31 January, and you may face interest and a penalty if you file or pay late. Most people in the UK never fill in a tax return, because tax on their wages and pensions is taken off automatically through PAYE. But if you have income that is not taxed at source, from self-employment, rent, savings, investments, or a range of other sources, HMRC needs you to report it, and Self Assessment is the system it uses to do that. Get it right and it is a once-a-year piece of admin; miss the deadlines and the penalties and interest start to build. This article explains, in plain language, what Self Assessment is, who has to file, how to register, the key deadlines, how to pay, and what happens if you are late. The figures and dates here are for the 2025 to 2026 tax year as published by GOV.UK. Self Assessment is HMRC's system for collecting Income Tax on income that is not taxed automatically at source. You must send a return if HMRC asks you to, and you file it after the end of the tax year (5 April). Tell HMRC you need to file by 5 October, by registering for Self Assessment. Paper returns are due by 31 October; online returns and payment are due by 31 January. For 2025 to 2026: file online by 31 January 2027 and pay any tax owed by 31 January 2027. Filing late brings an initial £100 penalty, and paying late brings penalties of 5% of the unpaid tax plus interest. Self Assessment is the system HM Revenue and Customs uses to collect Income Tax on income that is not taxed automatically. Self Assessment is the system HM Revenue and Customs (HMRC) uses to collect Income Tax on income that is not taxed automatically. Tax is usually deducted at source from wages and pensions through PAYE, but people and businesses with other income must report it in a Self Assessment tax return. You fill the return in after the end of the tax year it applies to, the tax year ending on 5 April, and you must send a return if HMRC asks you to. HMRC then calculates what you owe based on what you report. How much tax you pay depends on the Income Tax band you fall into, and there is a separate rate for Capital Gains Tax if you need to pay it, for example because you sold shares or a second home. If you file or pay late, you may have to pay both interest and a penalty. You must send a return if HMRC asks you to, which typically includes people with untaxed income such as self-employment, rental income, or significant savings and investment income. The common thread is income that PAYE has not already taxed. If tax has not been collected automatically, HMRC needs you to declare that income so the right amount can be worked out. If you are not sure whether you need to file, GOV.UK has a checker, and it is worth using rather than guessing, because the duty to notify HMRC sits with you. If you receive a notice to file from HMRC, you must complete a return even if you think you owe no tax, until HMRC confirms you no longer need to send one. You register with HMRC to tell them you need to file, and you must do this by 5 October following the end of the tax year. You must tell HMRC by 5 October if you need to complete a return for the previous year and you have either not sent a tax return before, or you registered before but did not need to send a return for the 2024 to 2025 tax year. You do this by registering for Self Assessment, and you could be fined if you do not tell HMRC by that date. Registering matters because it is what generates the credentials and Unique Taxpayer Reference you need to file. If you register after 5 October 2026, HMRC will send you a letter or email giving you a different filing deadline, three months from the date on that letter or email, but you must still pay the tax you owe by 31 January 2027 regardless. Tell HMRC by 5 October, file a paper return by 31 October, and file online and pay by 31 January. For the 2025 to 2026 tax year, which started on 6 April 2025 and ended on 5 April 2026, the key dates are: Register for Self Assessment by 5 October 2026. Submit a paper return by 11:59pm on 31 October 2026. Submit an online return by 11:59pm on 31 January 2027. Pay the tax you owe by 11:59pm on 31 January 2027. A couple of extra dates are worth noting. If you want to pay your Self Assessment bill through your tax code, you must file online by 30 December 2026. And there is a second payment deadline of 31 July for those who make “payments on account”, advance instalments towards the following year's bill. If a deadline falls on a weekend or bank holiday, the practical point is simple: aim to be early rather than testing it. You can file online through your HMRC account, or on a paper SA100 form, and you need good records to complete it correctly. Most people file online, which you can do any time on or after 6 April once the tax year has ended. If you need a paper form, you can download the SA100 or call HMRC and ask for it, remembering the earlier 31 October deadline for paper. Before you start, keep records such as bank statements and receipts so you can report your income and expenses accurately, this is a GOV.UK requirement, not just good practice. HMRC calculates your bill from what you report, so the quality of your records drives the accuracy of your return. If you get stuck, GOV.UK has guidance on getting help filling in your return. Pay by 31 January. Filing late starts with a £100 penalty, and paying late brings 5% penalties at 30 days, 6 months, and 12 months, plus interest. Example: your 2025 to 2026 online return is due on 31 January 2027 but you forget and file on 15 February 2027. You immediately owe the initial £100 late-filing penalty, even if you had no tax to pay. If you still had not filed after three months, daily penalties of £10 a day would start, up to a maximum of £900; after six months a further 5% of the tax due or £300 (whichever is greater) would be added; and after twelve months, another 5% or £300. Late payment is charged separately. On top of any late-filing penalty, you are charged 5% of the tax unpaid at 30 days, again at 6 months, and again at 12 months, with interest running on the amount owed throughout. You must pay a penalty within 30 days of the date on the penalty notice, and if you have a reasonable excuse you can appeal. The takeaway is that filing and paying are two separate duties, each with its own penalties, so meeting one does not excuse missing the other. Yes, if HMRC has asked you to send a return. Once you receive a notice to file, you must complete the return until HMRC confirms you no longer need to, even if the result is that no tax is due. Paper returns must reach HMRC by 31 October, while online returns have until 31 January. Most people file online for the extra time and the instant calculation of what they owe. By 5 October following the end of the tax year, if you have not filed before or did not need to file for the previous year. You could be fined if you miss this. They are advance instalments towards your next year's bill, due by 31 January and 31 July. GOV.UK's guidance on understanding your bill explains when they apply to you. HMRC calculates your bill from what you report on your return. You can also estimate your bill in advance using GOV.UK's Self Assessment tax calculator to help you budget. You get an initial £100 penalty, then £10 a day after three months (up to £900), then 5% of the tax due or £300 (whichever is greater) at six and again at twelve months. Paying late adds separate 5% penalties plus interest. Self Assessment is really a sequence of dates: register by 5 October, file by 31 October on paper or 31 January online, and pay by 31 January. The people who avoid penalties are the ones who treat it as an annual rhythm, keeping records through the year, registering in good time, and filing and paying before the deadlines rather than on them. Because late filing and late payment are penalised separately, and interest runs on unpaid tax, the cost of drift adds up quickly. Keep clean records, know your dates, and if your affairs are more complex than a single source of income, get help before the January rush rather than during it. General information based on GOV.UK guidance “Self Assessment tax returns” (Overview, Deadlines and Penalties) for the 2025 to 2026 tax year, not personal tax advice. Dates and figures change year to year, confirm your own position with a qualified adviser or HMRC before acting. Taxule can handle your registration, records, and filing so you meet every Self Assessment deadline without the last-minute scramble. Talk to Taxule self-assessment-tax-returns-explained self assessment tax returns explained blogs Blogs blogs/self-assessment-tax-returns-explained blogs self-assessment-tax-returns-explained

7/21/2026

MTD for Income Tax: The Landlord's Essentials

MTD for Income Tax: The Landlord's Essentials MTD for Income Tax: The Landlord's Essentials What is Making Tax Digital for Income Tax? Who has to join, and when? What changes in practice for landlords The new penalty regime What UK landlords should do now to get ready Frequently asked questions What counts as qualifying income for Making Tax Digital for Income Tax? Will I still file a Self Assessment tax return? Do I get penalised for late quarterly updates in my first year? Can I sign up before I'm required to? What's the legal basis for Making Tax Digital for Income Tax? What if I run more than one property or business? Conclusion Get ready for Making Tax Digital From 6 April 2026, HMRC is phasing in the biggest change to Self Assessment in a generation: Making Tax Digital for Income Tax (MTD ITSA). If you're a UK landlord who currently sends one tax return a year, this changes what "filing" means in practice — digital records, MTD-compatible software, and four updates a year in place of a single annual return. It isn't just a change of format. Once the new rules apply to you, a missed quarterly update or a late return starts building towards real penalties. This guide sets out who has to join and when, what changes in practice for landlords, how the new points-based penalty regime works, and what to do now to get ahead of it. It is general information only and does not replace personalised advice from a qualified UK property tax adviser. KEY TAKEAWAYS Making Tax Digital for Income Tax (MTD ITSA) phases in from 6 April 2026 for landlords and sole traders with qualifying income over £50,000, based on the 2024–25 tax return. The threshold drops to £30,000 from 6 April 2027 (based on 2025–26 income) and £20,000 from 6 April 2028 (based on 2026–27 income). Qualifying income is your gross self-employment and property income combined — before expenses — taken from the last tax return you filed. Once mandated, you must keep digital records and send four quarterly updates a year through MTD-compatible software, followed by a final declaration in place of the old Self Assessment return. Quarterly update deadlines fall on 7 August, 7 November, 7 February and 7 May. HMRC will not issue penalty points for late quarterly updates in your first year in the regime — but late tax return and late payment penalties still apply from day one. From your second year, a points-based penalty regime applies: one point per missed deadline, and a £200 fixed penalty once you reach 4 points. Making Tax Digital for Income Tax is HMRC's replacement for the annual Self Assessment tax return for landlords and sole traders above certain income levels. Instead of filing one return after the tax year ends, you keep digital records throughout the year and send HMRC a summary every quarter through compatible software, finishing with a year-end final declaration that confirms your total income and tax due. The legal framework sits in Schedule A1 to the Taxes Management Act 1970, inserted by the Finance Act 2019, and given day-to-day effect through the Income Tax (Digital Obligations) Regulations 2026, which came into force on 1 April 2026. HMRC's stated aim is to reduce the error and delay that comes from a single annual reconciliation by giving both the landlord and HMRC a clearer, more current picture of income across the year. Whether and when you have to join depends on your qualifying income — your total gross income from self-employment and property combined, before expenses, based on the tax return you most recently submitted. HMRC reviews this every year and will write to confirm if you need to start, but checking is your responsibility (or your agent's) regardless of whether a letter arrives. Basis year Qualifying income threshold MTD ITSA start date 2024–25 Over £50,000 6 April 2026 2025–26 Over £30,000 6 April 2027 2026–27 Over £20,000 6 April 2028 You don't have to start using Making Tax Digital for Income Tax until after you've submitted the Self Assessment return that establishes your qualifying income for the relevant year — so your 2025–26 return, filed by 31 January 2027, is what determines whether you join from April 2027. If you believe you meet a threshold but haven't heard from HMRC, it's still your responsibility to check and sign up. The most visible change is the move from one annual submission to five. Four quarterly updates report cumulative income and expense totals for your property business, sent through your software by 7 August, 7 November, 7 February and 7 May. After the fourth update, you submit a final declaration — through the same software — that pulls together income from all your sources, applies your reliefs and allowances, and confirms your tax liability for the year. This final declaration effectively replaces the old SA100, though the 31 January filing and payment deadline is unchanged. Digital records means exactly that — each transaction (rent received, letting agent fees, repairs, insurance, mortgage interest restriction, and so on) needs to be recorded in your software as it happens, rather than reconstructed from bank statements and receipts once a year. If you run more than one property business, or have both a property business and a sole trade, each is tracked separately within the same qualifying income test. Making Tax Digital for Income Tax brings a new, points-based penalty system for late submissions, replacing the current late filing penalties for the tax years you're in the regime. You get one penalty point for each quarterly update or tax return deadline you miss — capped at one point per deadline even if you run multiple businesses. Once you reach 4 points, you're charged a £200 penalty, and a further £200 for every subsequent missed deadline. Points below the threshold expire automatically 24 months after the missed deadline. HMRC has confirmed a transitional easement: if you're mandated into Making Tax Digital for Income Tax for the 2026–27 tax year (the first wave, from the £50,000 threshold), you will not get penalty points for late quarterly updates in that first year — though late tax return and late payment penalties still apply as normal. Late payment penalties work differently and aren't points-based: broadly 3% of tax outstanding at day 15 (or none in your first year), a further 3% at day 30, and 10% a year charged daily on anything still outstanding after that. Work out your qualifying income — add up your gross rental income and any self-employment income from your last filed tax return to see which threshold, and which start date, applies to you. Choose MTD-compatible software early. Options built specifically for landlords, such as RentalBux, are designed to handle UK property, foreign property and self-employment income within one digital record — worth comparing before you're mandated. Tidy up your record-keeping now. Moving from an annual reconstruction to real-time digital records is far easier if you start logging rent, expenses and mileage as you go, rather than in the month before your first quarterly deadline. Consider signing up voluntarily. You can join before you're required to, which gets you used to quarterly updates — but make sure you understand the penalty rules that apply once HMRC confirms you're in. Get your position reviewed. If you have multiple properties, a mix of property and self-employment income, or overseas property, a property tax adviser can confirm your qualifying income calculation and set up your software correctly from day one. Qualifying income is your gross self-employment and property income combined, before expenses, taken from your most recently filed Self Assessment tax return. Employment income taxed under PAYE and investment income such as dividends are not counted towards the threshold. Not in the traditional sense. Once you're in Making Tax Digital for Income Tax, the annual SA100 is replaced by four quarterly updates plus a year-end final declaration, all submitted through compatible software. The 31 January deadline for finalising and paying stays the same. No. If you're mandated into the regime for the 2026–27 tax year, HMRC will not issue penalty points for late quarterly updates in that first year. Late tax return and late payment penalties still apply as normal from day one. Yes. You can volunteer for Making Tax Digital for Income Tax for the current or next tax year if you're registered for Self Assessment and have filed a return in the last two years. You'll need to catch up any quarterly updates already due for the year, and the new penalty rules apply once HMRC confirms you're in. It's made under Schedule A1 to the Taxes Management Act 1970, inserted by the Finance Act 2019, with the detailed rules set out in the Income Tax (Digital Obligations) Regulations 2026 (SI 2026/336), in force from 1 April 2026. All your self-employment and property income sources are added together for the qualifying income test, and you need to check and add each one in HMRC's sign-up service — but you only get one penalty point per missed deadline, even if more than one quarterly update was due. Making Tax Digital for Income Tax is not optional once your qualifying income crosses the threshold for your year, and the phased rollout means the £50,000 group joining from April 2026 is only the first wave — £30,000 follows in 2027, and £20,000 in 2028, pulling in most landlords with a meaningful portfolio. The safest approach is to work out where you sit now, choose your software early, and get your record-keeping into a digital routine well before your first quarterly deadline arrives. Whether you're joining from April 2026, 2027 or 2028, we can confirm your qualifying income, help you choose the right MTD-compatible software, and manage your quarterly updates and final declaration. Speak to a property tax specialist Sources & further reading: HMRC, Find out if and when you need to use Making Tax Digital for Income Tax; HMRC, Sign up for Making Tax Digital for Income Tax; HMRC, Penalties for Making Tax Digital for Income Tax; the Income Tax (Digital Obligations) Regulations 2026 (SI 2026/336); Schedule A1 to the Taxes Management Act 1970. This article is general information, not tax advice, and reflects HMRC guidance and legislation as at July 2026, which can change. Making Tax Digital for Income Tax is fact-specific always confirm your own position and start date with a qualified UK property tax adviser before you rely on it. mtd-for-income-tax-the-landlords-essentials mtd for income tax the landlords essentials blogs Blogs blogs/mtd-for-income-tax-the-landlords-essentials blogs mtd-for-income-tax-the-landlords-essentials