Emergency tax and lump sum withdrawals

This image shows which form is required to claim back any overpaid tax.

If the client intends to encash their full pension pot and they have no other source of income then form P50Z is required.
If the client intends to encash their full pension pot and they do have another source of income then form P53Z is required.
If the client only intends to encash only some of their pension pot and they don't intend to take any further payments or income from it just now then form P55 is required.
If the client only intends to encash only some of their pension pot and they do intent to take any further payments or income from it HMRC will confirm the tax code to be used.

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.