The P45 has been given a reprieve by the UK tax authority after employers said they did not want to see it go. A P45 is given to workers when they move to a new employer or lose a job. By law a P45 has to be issued, recording pay and tax deducted in the year so far. However, it became a byword for being given the sack. A plan to replace the form with a "leaver statement" has now been dropped by HM Revenue and Customs.
New regime
HMRC is moving to a system of Real Time Information, under which staff movements will be recorded much more quickly. Trials start in April. It had been thought that the P45 - which has been in existence since 1944 - would be unnecessary and its days were numbered, but HMRC said it would be retained....Read more here--: BBC News - P45 tax form is given a reprieve by HMRC