Form P55 is HMRC's repayment claim for when you've flexibly accessed your pension, taken only part of the pot, won't be taking regular payments, and the pension provider can't refund the tax itself. You estimate your income for the rest of the tax year and HMRC repays any overpaid tax during the year, rather than you waiting until it ends.
It's one of the most-used pension forms because a one-off withdrawal is taxed through PAYE like income, and that often takes more than the tax you'll owe for the year. Everything below comes from the P55 form, HMRC's pension refund guidance and GOV.UK's pension tax pages, as of October 2026.
Is P55 your form?
| What you've done | Form |
|---|---|
| Taken part of your pot, no regular payments, provider can't refund | P55 |
| Taken part of your pot as a pension death benefit payment | P55(DB) |
| Flexibly accessed all of your pension | P53Z |
| Stopped work and flexibly accessed all of your pension | P50Z |
| Taken a small pension lump sum | P53 |
HMRC says using the wrong form can delay your refund. Its online check tool asks which payment you've had and sends you to the right claim, online or by post.
How much of a withdrawal is tax-free
You can usually take up to 25% of a pension as a tax-free lump sum, with a maximum of £268,275 known as the lump sum allowance, as of October 2026. When you take cash from a pot you haven't yet accessed as an uncrystallised funds pension lump sum, 25% of that cash is tax-free and the rest is taxed as income. The taxable part is what the provider runs through PAYE, and the taxable amount appears on the letter or payment slip from your provider.
GOV.UK gives its own example of the tax-free share: a whole pension worth £60,000, with £15,000 taken tax-free, leaves the provider to take tax off the remaining £45,000.
The knock-on effect on future saving
A flexible withdrawal can also change how much you can pay into pensions later. The standard annual allowance is £60,000 this tax year, but GOV.UK says it may be lower if you've flexibly accessed your pension, for example by taking cash from a pension pot as an uncrystallised funds pension lump sum. GOV.UK calls that lower limit the MPAA. If you're still working and saving, check it before you take the cash, not after.
Filling in the P55
- Answer questions 1 to 9 about you, including your National Insurance number and employer PAYE reference if you have one.
- Enter expected pay from employment, and self-employment profits, for the tax year of the payment.
- Give your other UK pension income, plus the taxable part of the flexible payment, the name of the pension company and the tax deducted.
- Add taxable state benefits, interest, dividends and any other income, as accurate estimates if you don't know final figures.
- Use whole numbers, rounded down to the nearest pound, and sign the declaration on page 8.
- Give your bank details, or a nominee's UK bank account if you don't have one.
Why the tax looks too high
Your total income decides the tax you owe. You don't usually pay tax if it's below your Personal Allowance, usually £12,570 as of October 2026, and GOV.UK warns that taking a large amount from a private pension can push you into a higher rate for the year. A one-off withdrawal run through PAYE can be taxed as if it were part of a much bigger regular income, which is why a refund claim is so common after a single payment.
If you file Self Assessment
This is the part most people miss. If you've got both PAYE and Self Assessment income, HMRC won't include your Self Assessment income in working out the repayment unless you ask it to. You must still pay any balancing payments and payments on account when they're due, though you can ask HMRC to use the repayment to reduce your payments on account. And you must include any repayment you've received on your next Self Assessment return.
What happens next
HMRC works out any repayment and pays it by Faster Payments into a bank account in your name or your nominee's. At the end of the tax year it checks again and contacts you if the amount is different, so keep your paperwork until those checks are done.
If you're also working, your employer's P60 and the provider's figures should together match the income you estimated. If you take regular payments later, the provider usually deducts tax under PAYE with its own tax code, and you may have a different code for each pension and job.
A worked view of the paperwork
Keep 3 things together: the provider's letter or payment slip showing the taxable amount and tax deducted, your estimate of income for the rest of the tax year, and a copy of the P55 you send. If you claim in, say, the summer and your income later turns out higher or lower, HMRC's year-end check adjusts the refund.
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Flexible access depends on the kind of pension you hold, and our guide to the types of UK pension scheme explains the differences.
Who shouldn't use P55
- Non-UK residents for tax purposes; HMRC points you to its guidance on being taxed twice instead.
- Anyone taking regular payments from the pension, because the provider adjusts the tax over the year.
- Anyone whose provider can make the refund itself.
- Anyone who's emptied the pot, who uses P53Z or P50Z.
For a refund after you've stopped working with no pension cash involved, the general P50 claim applies instead, using parts 2 and 3 of your P45.
The verdict
If you've taken a one-off chunk from your pension and the tax looks far too high, don't wait until next April: claim on P55, online or by post, once you know your income for the rest of the year. Get the form right, estimate honestly, and if you file Self Assessment, remember the repayment goes on your next return.
If the tax came off a regular job rather than a pension, our guide to claiming tax back after you stop working explains the claim.
Frequently asked questions
What is a P55 form?
It's HMRC's form to claim back tax on a flexibly accessed pension payment when you've taken part of your pot and won't take regular payments.
When should I use P53Z instead of P55?
Use P53Z if you've flexibly accessed all of your pension, and P50Z if you've also stopped working.
How much of a pension withdrawal is tax-free?
You can usually take up to 25% as a tax-free lump sum, up to a maximum of £268,275, known as the lump sum allowance.
Does HMRC include Self Assessment income on a P55 claim?
Not unless you ask it to. You still pay balancing payments and payments on account, and include the repayment on your next return.
How does HMRC pay a P55 refund?
By Faster Payments into a bank account held in your name or your nominee's.
