Tax and payroll
P45
The form you get when you leave a job, showing your pay and tax so far in the tax year. You give it to your next employer so they can tax you correctly from the start.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
Send your P45 to the new payroll team, or you might go on an emergency tax code.
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