For PAYE (Pay As You Earn) employees, the UK tax year governs how income tax and National Insurance contributions are calculated. Employers deduct taxes throughout the year according to your earnings and tax code, aligned with the tax year from 6th April to 5th April. At the end of the tax year, employers provide a P60 form, summarising your total income and deductions. This document is vital for checking tax payments, applying for tax refunds, or providing proof of earnings for loans or benefits.

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