Go Daddy Cancel Domain

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Are you sure it's not that big a deal to cancel it directly at GoDaddy?
Apparently you just go to My Account | My Domains | check the domain name and select cancel, which sounds much the same as I'd do with mine.
You know you can just change to a different company and have the name transferred? It's your property, not GoDaddy's.

Domain Ownership Protection
Protects you from losing your domain name if you forget to renew it, or if we can't charge your credit card. If you fail to renew your domain name, we hold it for up to one year. During that time, it's in an inactive, protected status with a parked page. We do not keep your related services running if your domain name renewal lapses. To rescue the domain name during the protected status period, pay the renewal fee.

Oh yeah - I'd forgotten about all that personal information they required.

According to this http://help.godaddy.com/article/1286 the protection part is separate from the registration part.
So with other companies - if you forget to renew the registration then the name dies pretty quickly or could be taken up pretty quickly by someone else - but with GoDaddy and this protection service, the name is instead "parked" as reserved which prevents it from being used by someone else for up to one year.

At the top of this page http://www.godaddy.com/domainaddon/prot ... ation.aspx which is where I'd found the above information, is a UK phone number: 020 7979 2661 that might be worth trying.
Alternatively this http://www.warriorforum.com/main-intern ... -trap.html (and there are probably many more with similar "I'm trapped" stories) seems to suggest that disabling "Auto renew" might give you a little more control in that you can stop surprise domain renewal bills - and if the domain isn't being renewed then there's no point in trying to protect it.
But GoDaddy does seem to be the masters of upsell. Not good.

So don't pay and let the existing protection service expire, and since you've (hopefully) stopped the auto-renewal, the domain itself will expire soon enough.
The domain name will be in limbo until the current protection period expires, at which point (if not renewed) it becomes unprotected and up for grabs like any other domain name.:
Tell them on that number you're not happy about giving all that information. Explain that you no longer need or want the domain name. Don't ask them whet they can do, tell them what you'll be doing.

Sadly, I cannot even disable the blasted auto renewal due to this bloody thing as far as im aware.
UPDATE:
Just as I bloody thought, I cannot cancel the domain, but not all bad.
I can cancel everything BUT, the domain name and the protected registration (Which would probably sum up to a 15 pound bill if I dont get round to it) which is a huge releaf, Its sort of been looming over me this past year.
I hope I can email them. I hate sorting things out over the phone.
Do you think I could just tell paypal to not accept any incoming invoices from them? Wouldnt that be bad?
The renewal rate is every 2 years. I registered March 3Rd 2010.
So yeah.