03 January 2025
HM Revenue and Customs (HMRC) has released updated guides for employer substitute P60 forms for tax years 2024-25 and 2025-26.
Any employer can choose to design and use substitute forms P60 providing:
- The whole cost is covered by the employer
- All the information required on a P60 is included on the form (P60 legal requirements, provided on page 4 of the guidance)
The guidance includes additional information, best practice, and illustration example forms.
Both guides have been updated to remove the reference to the Lifetime Allowance that has been abolished and replaced with Individual Lump Sum Allowance and Lump Sum and Death Benefit Allowance.
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