P55: Claim back tax on a flexibly accessed pension overpayment
Form P55 is how you ask HMRC for a refund in the current tax year when you have taken part of your pension pot flexibly and emergency tax has taken too much.
This is the genuine HMRC PDF, unmodified. Source: HMRC official page.
What is P55?
P55 applies where you have flexibly accessed part of your pension, do not intend to take further payments from that pot before the end of the tax year, and your pension provider is unable to make the refund itself. Because a first flexible payment is usually taxed on a month 1 emergency code, the deduction is often far higher than the tax actually due.
The form asks for your personal and National Insurance details, the payment and tax figures for the flexible withdrawal, and an estimate of your other income for the tax year. HMRC uses those figures to recalculate the tax and repay the difference rather than making you wait until after the tax year ends.
Who files P55?
- People who have taken a single flexible payment from part of a pension pot
- People who will not take further payments from that pot before the tax year ends
- Anyone whose pension provider cannot repay the overpaid tax directly
- People not in Self Assessment who would otherwise wait for an end of year adjustment
How to fill out P55
- Check that P55 is the right form: use P53Z if you emptied the pot, or P50Z if you emptied it and stopped working.
- Enter your name, address, date of birth and National Insurance number.
- Enter the taxable pension payment and the tax deducted, as shown on the payslip or P45 from the provider.
- Estimate your other income for the full tax year, including employment, other pensions, benefits, savings and dividends.
- Sign the declaration and post the completed form to Pay As You Earn, HM Revenue and Customs, BX9 1AS.
Get P55
HMRC publishes P55 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
What if I take another payment after I have claimed?
P55 assumes no further payments from that pension pot in the same tax year. If circumstances change, HMRC will reconcile your position after the tax year ends and contact you if an adjustment is needed.
Why was so much tax taken from my first withdrawal?
Pension providers usually apply an emergency tax code on a month 1 basis to a first flexible payment, which treats the one off amount as if you received it every month. That is why the deduction often looks disproportionate.
Can I claim online?
Yes, HMRC offers a digital P55 claim as well as the paper form. The online service does not let you save your progress, so gather your figures first.