What is a P60 Form? A complete guide for Umbrella Company employees

As an employee of an umbrella company, it’s essential to understand your P60. Many contractors and temporary workers ask, “What is a P60?” or “When will my umbrella company issue my P60?” 

A P60 is an official end-of-tax-year document that summarises your income, tax paid, and National Insurance contributions. In this guide, we explain everything umbrella company employees need to know about their P60, including why it matters, what you need to know and when you’ll receive yours. 

• A P60 is an official UK tax document issued at the end of each tax year 

• Umbrella company employees receive a P60 if employed on 5 April 

• Your P60 summarises earnings, tax, and National Insurance 

• Employers must issue P60s by 31 May following the tax year end 

A P60 Form is an official tax document recognised by HMRC, that is provided by your employer after the end of the UK tax year. For SG Umbrella company employees, we are responsible for issuing you with your P60. 

Your P60 confirms: 

• The total taxable pay for the tax year 

• The total amount of Income Tax that has been deducted 

• National Insurance contributions 

We advise you keep your P60 Form in a safe and secure place, as it may be required for future tax checks, financial applications, or future employment queries. 

SG will issue your P60 Form as a PDF document. It is printed on a single A4 page and is orange in colour, making it easy to identify. 

A P60 includes: 

• Your full name and National Insurance number 

• Payroll number 

• Total earnings for the tax year 

• Income Tax paid 

• Tax code used 

• Statutory payments (if applicable) 

• Student or postgraduate loan deductions (if applicable) 

• Employer PAYE reference and address 

Your P60 acts as proof of your income and the tax you’ve paid. For umbrella company employees, it’s particularly important because it confirms PAYE compliance and earnings across the tax year. 

The common reasons you may need your P60 include: 

• Checking your tax deductions are correct 

• Completing a Self-Assessment tax return 

• Claiming a tax refund from HMRC 

• Applying for a mortgage or personal loan 

• Verifying income for benefits or tax credits 

A common question we get asked is “What’s the difference between a P60 and a P45?” 

• A P45 is issued when you leave a job and shows your complete pay and tax up to your leaving date within the current tax year 

• A P60 is issued annually and summarises your total earnings and deductions for the entire tax year (if you are still employed at the turn of the tax year) 

If you changed jobs during the tax year and provided a P45 to your new employer, your P60 will include earnings from multiple employments within that tax period. The team at SG Umbrella will be able to talk you through any specific areas you have questions about in your P60. 

Understanding your P60 helps you stay compliant, manage your finances, and avoid delays when dealing with HMRC or financial providers. 

If you have any questions about your umbrella company P60, or need support understanding your tax documents, SG Umbrella is here to help. 

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