P55 RECLAIM - timeline from HMRC (For Info)

ARFURCHANCE

If any member needs to make a P55 Reclaim of tax - the following information may be of some benefit:

In the last 3 tax years I have 3 times drawn down a Lump Sum from my Pension - roughly the same amount and at roughly the same time of year (end of November). All my figures submitted on P55 form were broadly the same each tax year - and therefore my claim for a refund of tax paid was the same each tax year.

The processing times from HMRC have been as follows:

Tax Year 20/21 = 2 weeks
Tax Year 21/22 = 4 weeks
Tax Year 22/23 = 8 weeks

It's no big deal - you get the reclaim into your bank as normal - but the extended wait time needs to be factored in if you want the money for something.

Pat38493

There was an article in one of the papers last week about major staffing issues at HMRC causing delays in all sorts of things including issuing companies with VAT registrations and so on.

Dazed_and_C0nfused

At that rate by 25:26 there'll be no point applying for some people, you'll get the refund in the same timeframe as just waiting for an automatic refund!

dunstonh

Its part of the public sector laziness that is going on at the moment.  WFH is causing delays in many public sector roles.

german_keeper

dunstonh said:

Its part of the public sector laziness that is going on at the moment.  WFH is causing delays in many public sector roles.

Yes, instead of grafting their backsides off to earn that bumper 2% pay rise they are probably spending most of their time on some obscure internet forum spouting nonsense on subjects that they have no knowledge or experience of. 

dealyboy

... I agree with dh and g_k, but ... I just wish they would update their communications ... is it 30 days? (excluding w/e's) 35 for me last year, or 15 days? with expected date on the HMRC portal, well it showed 15 days last year ... 13th Feb this year! today! 

GSP

We had to wait 4 weeks 21/22 which is bang on the money for what Arthurchance has mentioned.
Currently, on my wife’s P55 her expected money was Feb 10th which was 4 weeks after she submitted. May have to do some juggling with finances if we can as that 8 weeks (or more) suggestion for this period is looking likely.

horsewithnoname

dunstonh said:

Its part of the public sector laziness that is going on at the moment.  WFH is causing delays in many public sector roles.

Absolute garbage. It’s under resourced and insufficiently trained public sector people on near minimum wage. And the offices are not big enough for everyone to work there every day, hence working at home, and wherever they work, the work done is monitored so wfh makes no difference to the delays caused by “ political pressures “ ( Hope that doesn’t fall foul of the censorship of this site)

anyone who thinks the public sector is such a doddle is free to get a job there.

dealyboy

Just received my P55 rebate (HMRC portal claim 23/01/23) took 4 weeks 5 days.

ARFURCHANCE

Just an update for anyone reclaiming via P55 online.
Submitted 2 August 
Tax back in Bank account 11 September
so just about 5 weeks including a bank holiday.

Disappointingly - from a HMRC viewpoint - when I checked the progress of the claim via my gateway - it said the claim would be completed by 24 August, then 30 August, then 4 September (which it still states)

Steve_666_

That timescale is broadly what I was told. I rang HMRC this week and wait an hour to get through, but my query needed to go to a specialist team. Was told to expect a phone call in about 8 weeks...