A P45 is a four-part form issued by your employer when you leave a job. It shows how much you earned and how much tax you paid up to your leaving date in the tax year.
Why this matters for your finances
A P45 is given to you when you leave a job. Here is what it contains, why it matters, and what to do if you lose it. Understanding how UK tax applies to your specific situation is essential for making informed financial decisions — from salary sacrifice to pension contributions to investment strategy.
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Find an IFAGetting the most from your tax position
Many UK taxpayers overpay tax simply because they are not aware of legitimate reliefs, allowances, and strategies available to them. A qualified independent financial adviser or tax specialist can review your position and identify opportunities to reduce your tax liability legally. Find verified advisers on the Kaeltripton Financial Index.
HMRC resources
For definitive information on your tax position, use HMRC direct resources: Personal Tax Account at gov.uk/personal-tax-account, the tax code checker at gov.uk/check-income-tax, and the self-assessment portal at gov.uk/self-assessment-tax-returns. These are free, authoritative, and updated in real time.
This article is for informational purposes only and does not constitute financial advice. Tax figures are based on 2025/26 rates. Always verify with HMRC or a qualified adviser.
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