Definitions for P45
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A form that an employee receives when they terminate their employment, detailing income for social security and taxation purposes for the current financial year.
A P45 in the United Kingdom, and the Republic of Ireland is the reference code of a form titled Details of employee leaving work. The term is used in British slang as a metonym for termination of employment. The equivalent slang term in the United States is pink slip. A P45 is issued by the employer when an employee leaves. It is a multipart form.
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