Homonym: P-45 (Tax)
A P-45 is a document issued in the United Kingdom when an employee leaves a job. It provides important information about the employee's earnings and the taxes that have been deducted during their employment. The P-45 is typically given to the employee by their employer and is essential for tax purposes, especially when starting a new job.
The P-45 includes details such as the employee's name, National Insurance number, and the date of leaving. It also shows the total pay received and the tax paid in the current tax year. This document is important for both employees and employers to ensure accurate tax reporting and compliance with HM Revenue and Customs regulations.