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Original poster

Does a P60 give me all the information I need?

9 replies

HeirApparent · 22/07/2014 20:51

My exH is meant to give me a copy of his P60 each year so that we can agree how much he needs to pay for our DD. When we split he agreed to pay 18% after tax, pension etc. For the last couple of years I have had £916 a month (yes I know I am VERY fortunate but he does earn A LOT!) and this year he claims that the payment is £922. A very small increase.
Now I will be honest, I don't really trust him and the last couple of years I haven't had a P60 but simply a copy of his last payslip of the financial year to back up his calculations. He has now recieved a promotion to CEO and I suspect, a very large pay rise.
My question is, should I insist on the actual P69 or is the last payslip ok or should I ask for something different?

OP posts:
juneybean · 22/07/2014 20:52

Last payslip will give you the same total year to date values that a p60 does in my experience

nannynick · 22/07/2014 21:48

The P60 would only show income in one job. So you would need to be sure he only had the one source of income.

Last payslip may well show earnings to date in the financial year, some do and some do not. So a payslip in May will not show much, whereas one at end of March will show a lot in the earnings to date, as financial year ends 5th April.

If you believe his income has gone up, would he be prepared to show you a current payslip, so one from June, or the one generated in this month's payroll (July)?

Is any part of his pay not done through payroll, perhaps as shares?

Bumply · 22/07/2014 21:54

If it's 18% after tax and pension he may well have increased his pension contributions out of his pay increase to keep the amount he pays you much the same.
Having said that, my last payslip of the year does show pretty much what the P60 does in terms of overall amount paid in, tax, pension contribution etc. so if you have his final payslip you'd be able to see if that's what he's doing.

Original poster
HeirApparent · 22/07/2014 23:12

Thanks for the advice. I'm pretty sure he hasn't got another source of income as he wouldn't have time but I will have a look at the pension contribution element as I can't believe his pay has increased so little over the year!

OP posts:
greeneggsandjam · 23/07/2014 00:54

I have no idea but WOW that's a lot of money!

Original poster
HeirApparent · 23/07/2014 08:42

It is indeed a lot of money! However since he currently earns about £120k that's how the calculations work out. I does occasionally cross my mind what would have my life have been like if he hadn't left but then I remember how he treated me and thank god I got away.
I use the money to put my DD through private school so I'm not relying on it for our lifestyle.

OP posts:
TalkinPeace · 23/07/2014 15:05

If he's a director and earns a lot there is a chance that he's pulling a fast one and getting his bonus put through on a Month 13 payslip
so the March payslip and the P60 will not agree .....

just a thought

on the other hand, do you need to rock the boat?
if you are coping and have minimal animosity, the extra say £200 a month might in reality cost a lot more IYSWIM

Smoolett · 23/07/2014 17:01

Talkinpeace, if hes a director he could also be taking a basic salary and getting paid the rest in dividends which wont show on his P60 (and would also be subject to a lower tax rate...)

Smoolett · 23/07/2014 17:03

Just a thought if hes a director he should have an SA calculation SA302. This will show ALL income so may be worth asking for that.

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