HMRC issues £50m pension tax refunds and P800 letters to 700,000 claimants

HMRC has reclaimed more than £50 million in tax on pension withdrawals made between April and June 2026. About 12,500 pension savers were affected, with an average repayment of roughly £4,000 each. The tax authority is urging those who may have been over‑taxed on their first pension draw‑down to check whether they are due a refund and to claim it online using the appropriate P50Z, P53Z or P55 form.

In a separate outreach, HMRC dispatched P800 tax calculation letters to around 700,000 individuals who may be owed a refund. The average over‑payment amount cited in these notices is about £473. Recipients can claim their money through the personal tax account, the HMRC app, or by requesting a cheque, with online refunds typically arriving within five working days and cheque refunds taking up to six weeks.