How to Claim Back Emergency Tax on a Pension Withdrawal: P55, P53Z and P50Z (2026/27)

Overtaxed on your first flexible pension withdrawal? Which of P55, P53Z or P50Z fits your case, how to claim online or by post, and what happens next.

2026/27 tax year

Pensions & Retirement
Personal
UK-wide

Summary

HMRC tells pension providers to tax the first flexible payment on an emergency code on a month 1 basis unless they hold a current-year P45, so one large withdrawal is taxed as if you received it every month.
Use form P55 if you took part of your pot, will take no more regular or flexible payments before the tax year ends, and the provider cannot refund you.
Use form P53Z if you emptied your pot and have other income such as a job or other pensions; use form P50Z if you emptied your pot, have stopped work and have no other income.
All three can be claimed online after signing in, or on a printed form posted to HMRC; P50Z guidance says a reply may take 14 days.
If you do nothing, HMRC's manual says it will review your position after the tax year ends and send a calculation showing any over or underpayment.

This guide is general information, not advice.

This guide is for you if you have taken money flexibly from a defined contribution pension, such as a drawdown payment or an uncrystallised funds pension lump sum, and far more tax came off than you expected. That is usually emergency tax on your first payment, and you can claim the excess back during the tax year.

By the end you will know why it happened, which of the three HMRC forms fits your case, how to send it, and what to expect afterwards. The tax-free part of a withdrawal is a separate subject: see the 25% tax-free lump sum guide.

Why the first withdrawal is overtaxed

HMRC’s PAYE manual, PAYE76170, sets the rule. If you give your provider a P45 dated on or after 6 April of the current tax year, it uses that code on a Month 1 basis. In all other cases, including a P45 from the previous tax year, it uses the emergency tax code on a month 1 basis against the first payment, and HMRC then issues a code for later payments.

A month 1 code gives you only one-twelfth of your Personal Allowance and one-twelfth of each rate band (GOV.UK, emergency tax codes: tax is “worked out based on what you’re paid in that week or month only”). A one-off payment is taxed as if you would receive the same sum every month, so much of it lands in the higher and additional rate bands even if your income for the year is modest. The worked example below shows the scale.

Before you start

Have these ready:

Your National Insurance number.
Parts 2 and 3 of the P45 from your pension provider. HMRC’s P53Z page says it cannot deal with the claim without them. A provider issues a P45 once the pot is emptied (PAYE76170).
The payment amount and the tax deducted, from your payment statement.
Name, address and PAYE reference of your pension provider and of any employer.
Estimates of your other income for the tax year (6 April to 5 April): pay, other pensions, State Pension, taxable benefits, savings interest, dividends, rental income. Use whole pounds rounded down; estimates are accepted and HMRC checks them after the year ends.
HMRC sign-in details if you want to claim online. If you have none, the service lets you create them.

Step-by-step

Pick the right form. GOV.UK’s wording for each:
- P55: you have flexibly accessed your pension pot but not emptied it, you will not take regular or flexible payments before the end of the tax year, and the pension body cannot make the refund. P55 guidance.
- P53Z: you have flexibly accessed all of your pension and have other income (or had a serious ill-health lump sum). P53Z guidance.
- P50Z: you have emptied your pot, stopped work and do not expect to go back, and have a P45 from the provider. Also for people who have retired permanently without a pension from a former employer, or returned to full-time study with no income. P50Z guidance.
- None of them if you took a small pot or trivial commutation lump sum (that is form P53), or if you are not UK resident for tax (a double taxation claim instead).
Check the P50Z exclusions. Do not use P50Z until 4 weeks have passed since you stopped work or your pension payment. Do not use it if you expect a new job within 4 weeks (give that employer your P45 instead) or if you are claiming Jobseeker’s Allowance, taxable Incapacity Benefit, contribution-based Employment and Support Allowance or Carer’s Allowance.
Claim online. Each guidance page has a start button that asks you to sign in. Gather everything first.
Or claim by post. If you cannot sign in, fill in the form on screen using HMRC’s interactive guidance, print it, sign the declaration and post it. Or download the PDF, complete it by hand and post it. The address is at the end of each form.
If you file Self Assessment, leave estimated Self Assessment income out unless you want it counted, and include any repayment on your next return (the P55 and P50Z guidance pages say this).

Deadlines and what happens next

Reply time. The P50Z page says it may take 14 days to get a reply and asks you not to contact HMRC in that period. The P55 and P53Z pages give no figure and link to HMRC’s reply-times tool.
How the money arrives. P55 refunds go by Faster Payments to an account in your name or your nominee’s. P53Z and P50Z refunds come as a payable order sent to you or your nominee; GOV.UK says these cannot be paid by Bacs.
Later payments. Under PAYE94055, when HMRC repays a P55 claim it issues a new tax code to your provider for future payments.
Year-end check. HMRC checks claims after the tax year ends and contacts you if the figure differs. Keep your paperwork until then.
If you do not claim. PAYE94055 says that where no repayment request is made, HMRC automatically reviews the position after the end of the tax year and sends a tax calculation showing any over or underpayment. Claiming just gets the money back sooner.

Common mistakes

Using P55 after emptying the pot. P55 is for a partial withdrawal only; an emptied pot is P53Z or P50Z.
Planning a second withdrawal soon after a P55 claim. P55 requires that you will not take regular or flexible payments before the tax year ends.
Using P50Z while you have other income. Other income means P53Z. PAYE94055 does treat someone whose only other income is the State Pension as a P50Z case.
Sending P53Z without parts 2 and 3 of the P45. HMRC says it cannot process the claim without them.
Leaving out income. The repayment is worked out from your whole year’s expected income, so an understated estimate produces a bill after the year-end check.

Worked example

Illustration only, for a taxpayer outside Scotland in 2026/27 using the GOV.UK Income Tax rates: a £12,570 Personal Allowance, then 20% on the first £37,700 of taxable income, 40% on taxable income above that up to £125,140, and 45% above £125,140. Scottish rates differ; see Scottish Income Tax.

You withdraw a taxable payment of £30,000 and have no other taxable income this tax year. On a month 1 emergency code, one-twelfth of each figure applies:

Slice of the £30,000	Rate	Tax
First £1,047.50 (£12,570 ÷ 12)	0%	£0.00
Next £3,141.67 (£37,700 ÷ 12)	20%	£628.33
Next £7,286.67 (up to £125,140 ÷ 12 = £10,428.33 of taxable pay)	40%	£2,914.67
Remaining £18,524.17	45%	£8,335.88
Tax deducted on month 1 basis		£11,878.88

Over the whole year, the same £30,000 is taxed at 20% on £17,430 (£30,000 less £12,570): £3,486.00. The overpayment is £8,392.88, and that is what a P55, P53Z or P50Z claim recovers. This table is a simplified one-twelfth calculation to show the scale; the tax actually deducted is on your payment statement or P45, and that is the figure your claim uses.

Frequently asked questions

Why was so much tax taken from my pension withdrawal?

HMRC's PAYE manual (PAYE76170) tells the provider to use an emergency tax code on a month 1 basis against the first flexible payment unless it holds a P45 dated in the current tax year. On a month 1 basis you get one-twelfth of your allowance and rate bands, so a single large payment is taxed as if it were one month's income repeated all year, and much of it falls into the higher and additional rates.

Which form do I use: P55, P53Z or P50Z?

P55 if you took part of your pot, will not take regular or flexible payments before the tax year ends, and the provider cannot refund you. P53Z if you emptied the pot and have other income, such as a job or other pensions. P50Z if you emptied the pot, have stopped work and do not expect to go back, and have no other income.

How long does a pension tax refund take?

HMRC's P50Z guidance says it may take 14 days to get a reply and asks you not to chase during that time. The P55 and P53Z pages give no timescale and point to HMRC's reply-times tool instead. P55 refunds are paid by Faster Payments; P53Z and P50Z refunds come as a payable order.

Do I have to claim, or will HMRC refund me automatically?

You do not have to claim. HMRC's manual (PAYE94055) says that if no repayment request is made it will review your position after the tax year ends and send a calculation showing any over or underpayment. Claiming with the form gets the money back within the tax year instead of waiting until after 5 April.