UFPLS Tax Refund

dunstonh

I had several clients submit their P55 online right before tax year end and they have received their refunds in the last few days.  So, 2 weeks is the time at the moment.

DavidT67

dunstonh said:

I had several clients submit their P55 online right before tax year end and they have received their refunds in the last few days.  So, 2 weeks is the time at the moment.

Can concur, wife took an UFPLS payment start of March, and submitted P55 once paid, they received refund within two weeks, along with belated tax code update for 24/25 and 25/26.

Storcko14

DavidT67 said:

dunstonh said:

I had several clients submit their P55 online right before tax year end and they have received their refunds in the last few days.  So, 2 weeks is the time at the moment.

Can concur, wife took an UFPLS payment start of March, and submitted P55 once paid, they received refund within two weeks, along with belated tax code update for 24/25 and 25/26.

Thanks all - good to know and reinforces the plan to have a practice run this year.  So the learning for next year is to submit a P55 immediately after drawing down and before tax year end in order to get a swift(ish) tax refund and tax code adjustment.  In the meantime OH has done her un-asked for SA return so we'll see if HMRC responds to or ignores that.

Silverpete

When filling in the pension page of the self assessment online what total do you enter for a UFPLS? Is it the Gross Total or the Gross Taxable Total (i.e. the total less the 25% non-taxable element)? 

DavidT67

Which section of the Self Assessment return do you mean ? 

If you mean Boxes 11 & 12 on the UK pensions received section ? then refer to the SA 105 notes.

You enter the P60 amounts as provided by your pension administrator.

You don't include tax-free lump sums, as they aren't taxable income.

https://assets.publishing.service.gov.uk/media/67dab07e69606cdea9e08822/SA150-Notes-2025.pdf

Silverpete

Thanks - the notes were just what I needed!

Daz2009

I drewdown at the start of the current tax year and made a P55 application on 29/04/25......I'm still waiting for a response.Checking progress on gov.uk gives me different dates of when I should expect a reply,the latest,today,being 09/06.Still waiting.
I phoned HMRC and the automated system says don't contact us UNTIL you get a reply.
Talk about being in limbo


Finally arrived today,so 9 weeks