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Posted Thu, 31 Oct 2024 12:17:25 GMT by justpayingmytax
Hi tax experts! I left my last job in the tax year 2023/2024. I was given severance payment, but I requested the payment to be delayed until the tax year 2024/2025 (which they did). I now have the following questions: - I understand that I should get a P45 for the tax year 2023/2024 (because my employment ended in that tax year). Should I also get a P45 for the tax year 2024/2025 too (because my severance was paid out in that tax year)? - If I only get a P45 for the tax year 2023/2024, will it include my severance payment? And if it does, I suppose I have to manually subtract the severance sum from it?
Posted Wed, 06 Nov 2024 13:12:45 GMT by HMRC Admin 19 Response
Hi,
Unfortunately, it is not possible to check individual tax records through this forum, if you have a question which relates to your personal tax situation or tax code please contact our Income Tax team:
Income Tax: general enquiries
Thank you.
Posted Wed, 06 Nov 2024 16:13:07 GMT by justpayingmytax
Thank you HMRC Admin 19, but I'm asking about how P45 works, namely how it reflects severance payment that's delayed to the next tax year. I can't be the only person in this situation and there must be rules governing this type of situation. Thanks again
Posted Mon, 18 Nov 2024 12:02:45 GMT by HMRC Admin 21 Response
Hi,
As your employment ended during the tax year 2023/2024, you should get a P45 for 2023/2024 but this should only include your pay and tax details up to the date you left.  
You should also get a P45 for 2024/2025 and this should only include details of your Severance Payment.
Thank you.
Posted Mon, 18 Nov 2024 17:36:01 GMT by justpayingmytax
Thank you HMRC Admin 21!

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