Which form for reclaiming income tax paid on pension withdrawal ?

deejaybee

Hi all,

ill start off by saying i think its Form P53 we need to use, but appreciate feedback.

In last tax year 25-26, my wife received a pension payment as lump sum from Prudential as a "small lump sum option " it was from a " With Profits Fund "

Final value was 9127, and received 7758, so 1369 taxed.

She dosnt work and only other income in 25-26 was small occupational pension, and interest from savings - all added up = less than the 12570 allowance.

Assuming she will get all of the 1369 back ? So just checking again that its form P53 she needs,

and as she has a government gateway account, is it best to go through there, or print the form and post off to HMRC ?

Thanks

Dazed_and_C0nfused

Why bother filling in a form when HMRC will refund it automatically later this summer 🤔

deejaybee

D and C - Is that really the case ?

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/comment/81995436#Comment_81995436

Yep.

https://www.gov.uk/tax-overpayments-and-underpayments

LITRG

Hello deejaybee, we have information about claiming a repayment of tax deducted from a 'small pot' pension lump sum on our website. Please follow this link:

https://www.litrg.org.uk/pensions/pension-withdrawals/small-pensions#8

We also have general information about claiming tax refunds outside of the Self-Assessment system here:

https://www.litrg.org.uk/tax-nic/how-tax-collected/tax-refunds#16

As stated in our guidance, claims made via an online tax account are usually processed more quickly than those submitted on a paper form.

We hope this information is helpful.