P50 - is it a refund of tax Paid or tax Overpaid

The Wagster

Hello,

We're having a confusing time trying to work out what we should be getting from a P50 after being made unemployed.

The information I can find about the P50 say you are entitled to a refund of tax "paid" in that tax year. When I was made unemployed a few years ago in January the refund I received seemed to back that up. However my partner's role was made redundant in October and the refund she received was far less than expected. The revenue are saying the balancing statement she received has the same result as the P50 which seems to be a refund of tax "overpaid".

Is that correct or should we be receiving a larger refund?

Thanks,

Wag

Bridget Mary

P21 for 2015 will balance out tax and USC due and repay any over deducted. It covers Anytin due back on the p50 as well. P50 is for a refund during the year unemployment occurs. Amount refunded on o50 depends an how many weeks unemployed and if any benefits received.

scheister

You look for a P21 if the year in question has ended. So as your partner was made unemployed in November 2015. As it is now 2016 a P21 is what you look for.

You look for a P50 if still in the same tax year and you know you will not work again that year. For example i was working till August in 2012 then went back to college so i knew i would not be working again in 2012 so looked for a P50 that september to get my refund rather then waiting till 2013 and getting a P21