Tax on refundancy payment

dollypeeps

getmore4less wrote: »

HMRC have PAYE calculator on line.

http://payecalculator.hmrc.gov.uk/PAYE0.aspx


you can work out the refund due for the full year.

Thank you I was looking for this earlier but couldn't find it.
I have a good look tomorrow and hopefully the figures will be clearer.

dollypeeps

maninthestreet wrote: »

Has your DH received his P45 yet?

No his last day is today and he gets tomorrow ( paid every week on a Friday)

We received his wage slip today so that where we got the figures from .

dollypeeps

The more I read the more I get confused!!!!
I'm so sorry to ask people but do we get in touch with HMRC and say that this is not his usual wages and would we be due a tax refund?
Or is it something they will do automatically?

Thank you

molerat

They will not do it automatically before April unless he gets another job where the same system that (correctly) overtaxed him will pay back anything due. If he is not going to earn any more this year then once he receives his P45 he can speak to HMRC.

dollypeeps

molerat wrote: »

They will not do it automatically before April unless he gets another job where the same system that (correctly) overtaxed him will pay back anything due. If he is not going to earn any more this year then once he receives his P45 he can speak to HMRC.

No he won't be getting another job before April.
He has training courses to complete and then hopefully he will be going into business a little later once he has passed his course.

We need to contact HMRC once his P45 has been received then?

Thank you for your time molerat. It may seem simple to some but he's always been employed by a company and paid tax through PAYE so we've never had any dealings with HMRC really.

getmore4less

https://www.gov.uk/government/publications/income-tax-claiming-tax-back-when-you-have-stopped-working-p50

Peelerfart

As a P.S. potentially, to this thread,
I today received a refund from HMRC of my overpaid tax three weeks after I contacted them.
Getting hold of them is the hardest part of the entire process.