Giving up work - help with P50?

elwy

Hi everyone!

I recently gave up my job to be a stay at home mum and look after my children. My leaving date was in early May, so about a month after the new tax year.

I got my P45 which says:
Total pay to date £5013.35
Total tax to date £755.60

This was mostly a lump sum payment for unpaid maternity holiday. Am I right in thinking I can claim that £755.60 tax back, since the amount is under my tax allowance for this year and I don't expect to work again for a few years?

I've started filling out a P50 form but I don't understand the section on page 2 asking me about earnings since I left employment. None of it seems to apply to me since I haven't earned anything or received a pension. Can I leave all those fields blank? The form doesn't make it obvious

If I leave the fields on the P50 blank, will the tax office know that I am just trying to reclaim that £755.60 on the P45 form, or do I have to ask them specifically?

Help appreciated, I'm not used to all this tax stuff!

CLAPTON

P50 is specifically for people who want to reclaim tax after stopping work

but if you affairs are as simple as you say I would suggest you phone them with the details

ceeforcat

State earnings as £0.00 and sign below this. Also tick fifth box on left hand side:

I [FONT=DFLAN D+ IR Modena,IR Modena][FONT=DFLAN D+ IR Modena,IR Modena]do not [/FONT][/FONT]expect to go back to work (including part-time or casual employment) before the start of the new tax year on 6 April, and I am not in receipt of a pension.

and sign the declaration below it also. Remember to include parts 2 and 3 of your form P45.

elwy

CLAPTON wrote: »

P50 is specifically for people who want to reclaim tax after stopping work

Isn't that what I'm trying to do?

CLAPTON wrote: »

but if you affairs are as simple as you say I would suggest you phone them with the details

Just spent 11 minutes on their 0845 number paying to listen to the most shocking hold music. No indication of how long it will take for the call to get answered. Don't fancy any more of that



ceeforcat - thanks, it just seems odd that the form I'm filling in doesn't have anywhere to say what I'm trying to reclaim, I have to hope that they check my tax records and figure it out themselves?!

jet9cat

They'll figure it out because you have to send in your P45 parts 2 and 3 with the P50 which shows how much you have eafrned and how much tax you have paid. Have you tried your local HMRC enquiry centre for advice rather than hanging on the phone?

ceeforcat

elwy - By completing those boxes you are claiming a repayment of tax as a result of not having used all of your personal allowances (used to be called a cessation repayment in my day). Based on this you will receive all of your tax back.