P50Z: Claim a tax refund if you’ve stopped work and flexibly accessed all of your pension
P50Z is the HMRC claim form for someone who has taken their whole pension pot as a flexible payment, has stopped working and does not expect to go back. Pension providers often deduct emergency tax on those payments, and this form reclaims the overpayment.
This is the genuine HMRC PDF, unmodified. Source: HMRC official page.
What is P50Z?
When you flexibly access a pension, the provider usually taxes the payment on an emergency basis, which can take far more Income Tax than you actually owe. HMRC would eventually put that right at the end of the tax year, but P50Z lets you claim the refund straight away rather than waiting.
It is the right form only in a specific situation: you have emptied the pension pot, you have a P45 from the pension provider, and you have stopped work without expecting to return. HMRC asks you to wait four weeks after stopping work before claiming. Different circumstances need different forms, so check which one applies before you start.
Who files P50Z?
- People who have taken their entire pension pot as a flexible payment and have stopped working
- People who have permanently retired and have no pension from their former employer
- People who have returned to full-time study and have no other income
- Anyone taxed on an emergency code by their pension provider who does not want to wait until the end of the tax year
How to fill out P50Z
- Check P50Z is the right form. Use P55 if the payment did not empty the pot, P53Z if you have other taxable income, and P53 for a trivial commutation or small pot lump sum.
- Wait four weeks after you stopped work, and have the P45 from your pension provider to hand.
- Gather details of any other taxable income and state benefits for the tax year, including whether you are claiming Jobseeker’s Allowance or certain other benefits, which rule out using this form.
- Complete the form and sign the declaration, or make the claim online with your Government Gateway user ID, remembering that the online claim cannot be saved partway through.
- Post the signed form to the HMRC address printed on it. HMRC aims to confirm within 14 days, and refunds are paid by payable order rather than bank transfer, so give nominee details if someone else is to receive it.
Get P50Z
HMRC publishes P50Z as a flat PDF with no built-in form fields, so there is no quick-fill form here. Open it in the editor to type directly onto the pages, tick boxes and sign, or download the official blank and complete it in your PDF reader or by hand.
Frequently asked questions
How long does an HMRC refund take?
HMRC says you should hear within 14 days of it receiving the claim. Claiming online is generally faster than posting the form, and both routes pay the refund by payable order.
What if I go back to work after claiming?
Tell HMRC. Your tax code will be adjusted through PAYE and any difference is settled that way. Claiming P50Z when you do expect to return to work within four weeks is the wrong route; give your new employer parts 2 and 3 of your P45 instead.
Can I use P50Z if I claim Jobseeker’s Allowance?
No. HMRC excludes claims from people receiving Jobseeker’s Allowance, taxable Incapacity Benefit, contribution-based Employment and Support Allowance or Carer’s Allowance.