Leaving job next week and pay to date <20,000, possible refund?

EamoS

Hi, as the title says I'm leaving my job which I've been in since last October. My pay for YTD is €16071. My tax credits YTD (not sure if this is tax credits used or left, just says tax credits on my pay slip) are 1377.22.

I don't inted to work before the end of the year.

I've seen somewhere by filling out a P50 and sending it along with my P45 that I can claim tax back against tax credits if I'm leaving a job. Is this against tax credits paid already?

Any help with this would be greatly appreciated.

Edit: Tax paid is as follows

PAYE 1877.06
EMPLOYEES PRSI 495.94
INCOME LEVY 321.32

Sum Sea

Yes

Assuming you do not work till next year, you are due a refund. What was the Credits YTD on your last paycheque. Assuming it was Sept divide by 9 and multiply by 3. It is the unused tax credits for the year.

As you say fill out a P50 and send it along with your P45

EamoS

TAx credits YTD were 1377.22

I was looking at the P50 form and it asks if Im moving to another country which IM intending on doing. Im not intending on working there im going to be travelling. What bearing does this have on the P50 return?

ALso. Is it possible to claim for a general tax refund to see if Ive overpaid in previous years and a p50 refund together?
Thanks

gerrybbadd

EamoS wrote: »

TAx credits YTD were 1377.22

I was looking at the P50 form and it asks if Im moving to another country which IM intending on doing. Im not intending on working there im going to be travelling. What bearing does this have on the P50 return?

ALso. Is it possible to claim for a general tax refund to see if Ive overpaid in previous years and a p50 refund together?
Thanks

If you put down on the P50 that your leaving the country, will not be back before 31st Dec, and do not intend to work abroad, Revenue will perform a "Permanent Cessation" for 2010, which effectively finalises the tax year. You will get one refund payment for 2010.

If you were to just submit the p50 in normal fashion (ie intending to return to work at some stage before 31/12/2010), you'd only get a refund, calculated upto the date your claim was processed on (ie, the accumulated amount of your tax credits on this date, set against your tax liability in income earned to that date) You could then apply for a refund of tax every 4/8 weeks, depending on Social Welfare Income.

When submitting your P50, include a note, requesting P21 Balancing Statements for 2006 - 2009. These are reviews of your tax affairs for each year. It'd be stated on these if you over/under paid tax in each year. 2006 is as far back as you can go!

Hopefully this helps:D

EamoS

Yeah that helps a lot

I was just wondering though what the refund is based on? Like how do they calculate what Im due back when they give me the refund?

Also what other documents do I need to include when sending the p50 and note way? For example p45 or p60?

Thanks in advance.

breadmonkey

Anyone know if a P50 can be submitted through PAYE Anytime?

EamoS

Sorry to bump this thread, but just wondering about the P21 balancing statements. They will send these out, but how will I claim if I have overpaid in previous years? Is it done automatically when they are sent out if a discrepancy exists?

Thanks