Tax Form P55

Rob749

Hi everyone, apologies if this has been answered somewhere else, I have looked but couldn't find relevant answer. Has anyone claimed tax back in this tax year (2017/18) after taking UFPLS, if so whats the score with the online form? The only form I can find has the dates for claiming back tax in the last tax year (2016/17), no mention of this tax year - referring to question 13.

Also what tax reference is used in one of the other questions (Q9?). is this supplied by the pension provider ? My wife is claiming, and she doesn't have a tax code (non tax-payer), so not sure what to stick in there. Thanks for any help.

ironhead

Hi Rob

unfortunately P55 seems to have been overlooked by HMRC for this year.

I've just taken £11.5k from my personal pension and it will be my only taxable income for this year so technically I don't owe any tax but of course they have applied the month 1 rule and assumed I will be taking £11.5k every month and taxed me accordingly (cica £3.5k)

I phoned HMRC helpline and the guy I spoke to said that he couldn't find P55 for this year either so he said just write in to HMRC, PAYE and Self Assessment, BX9 1AS with an explanation and they will sort it.

I also enclosed a copy of the payment certificate from my pension provider, which is a bit like a wage payslip, so they can see what I've done.

It's been about ten days now and I've not heard anything back yet so still waiting with baited breath

cheers

Dan

greenglide

Can you not do an online claim? You can for 2016/2017 so I assume the 2017/2018 is available? See here https://www.gov.uk/government/publications/flexibly-accessed-pension-payment-repayment-claim-tax-year-p55

xylophone

yet so still waiting with baited breath

On the hook?

Rob749

Thanks for the link Greenglide. Will try that.

Rob749

Hi Ironhead - please post again when it is resolved. Thanks.

greenglide

Just had a look at the online facility to input the P55 and it doesnt actually state which tax year is being claimed - at least not in the first 3 or 4 screens, it just refers to "current tax year".

Can you use the P55 after the tax year is ended? If not then everything should be fine!

Rob749

Thanks again Greenglide, thats the way to go I think.

POPPYOSCAR

ironhead wrote: »

Hi Rob

unfortunately P55 seems to have been overlooked by HMRC for this year.

I've just taken £11.5k from my personal pension and it will be my only taxable income for this year so technically I don't owe any tax but of course they have applied the month 1 rule and assumed I will be taking £11.5k every month and taxed me accordingly (cica £3.5k)

I phoned HMRC helpline and the guy I spoke to said that he couldn't find P55 for this year either so he said just write in to HMRC, PAYE and Self Assessment, BX9 1AS with an explanation and they will sort it.

I also enclosed a copy of the payment certificate from my pension provider, which is a bit like a wage payslip, so they can see what I've done.

It's been about ten days now and I've not heard anything back yet so still waiting with baited breath

cheers

Dan

I thought the pension provider always deducted tax and you had to claim back from HMRC?

Ganga

I phoned up last year and got the tax refunded back direct to my bank account as i am a non tax payer,did not have to fill in any forms.

clivep

I submitted P55 claim forms online for my wife and myself on 30th April in regard to our mid-April UFPLS withdrawals.

Notification message of refund payment for my P55 was received at the end of last week. Payment due to be made today so I expect funds to turn up in a couple of days. Calculation form from HMRC received in the post today.

My wife's UFPLS has not yet been processed.

... Tues 16th May. Cleared funds received for my UFPLS tax refund.

... Wed 17th May. Calculation form for my wife's UFPLS received by post (dated 12th May) and funds received. Interestingly the payment decription is "Cheque deposit" and the funds are not cleared! (For mine the description was "Bank credit HMRC SA" and came through cleared). Unlike my refund, no notification message hes been sent to her online account. The text of the letter accompanying the calculation was different to mine... maybe because although I had to fill in a self-assessment tax return for 2016-2017, she has not been required to.