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Where Taxpayers and Advisers Meet

P55 Tax Reclaim Form

AstonKid1874
Posts:1
Joined:Wed Sep 20, 2023 2:07 pm
P55 Tax Reclaim Form

Postby AstonKid1874 » Wed Sep 20, 2023 2:21 pm

Hi, Ive just drawn down part of my Royal Mail pension albeit a relatively small amount of £14000 and paid 31% tax on the taxable 75%. I am retiring at the end of November when I will take the remaining amount in my pot. I started the process of reclaiming the emergency tax I paid on the first lump sum but then noticed the P55 Online process can only be used if I,m not going to make any further withdrawals this tax year. As I will be taking the remainder in December does this mean I,ll have to wait and reclaim the two overpayments together after Ive received the second amount, or does it mean I can claim the first lot now but the remainder will have to be reclaimed in the next tax year ?
Basically, can I submit two separate P55s in this tax year ?

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