The form P14 is a three-part form which must be completed for each employee in respect of whom the employer has completed a deductions working sheet during the year. Parts 1 and 2 must be sent to the PAYE tax office, which forwards one part to NICO. The third part is the P60 which is given to the employee giving him details of his pay and tax for the year. This should be provided to the employee no later than 56 days after the end of the tax year (i.e. by 31 May at the latest). If an employee leaves during the year, a form P14 must, nevertheless, be completed in respect of him at the end of the year but Pt. 3, the P60, should be destroyed. Forms P60 do not need to be given to employees paid below the tax/NIC threshold.
Although HMRC supply pre-printed stationery, an employer is not obliged to use it. He may keep the records in whatever form is convenient, e.g. he may use computer software. What matters is that the statutory information is recorded as required by the regulations.