• An individual has taken only part of their pension pot and will not be taking regular payments • The pension body is unable to make a tax refund
To make a claim, individuals can use the online form, complete the form on-screen and print and post to HMRC, or print off the form, complete by hand and post to HMRC.
To submit a claim online, there is the requirement of having a Government Gateway user ID and password. Where there is no user ID, one can be created at the point of claiming.
If an individual has taken all of their pension pot, they must use form P50Z or form P53Z.
The form should be completed with information regarding any other income that an individual may expect to receive during the tax year to ensure that HMRC repays the correct amount of tax. Where final figures are unknown, the most accurate estimates should be used. HMRC will conduct checks at the end of the tax year and make contact where amounts are different. Individuals should retain pay and tax records. Older people who are on a low income can contact the independent charity Tax Help for Older People if they require free tax advice.
Where individuals are not UK residents for tax purposes, there is no requirement to complete the form. They can either:
• Check how to make a claim under a double taxation agreement • Phone the Savings helpline
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Recognised overseas pension schemes notification list 3 June 2021
The list of Recognised Overseas Pensions Schemes (ROPS) notifications has been updated.
The list is of schemes that have told HMRC they meet the conditions to be a ROPS and have asked to be included on the list.
There have been 23 scheme names added to the list, and none removed. No amendments have been cited in this update.
A very welcome change is that HMRC now list the updates, as follows.
Bakes and Perso SMSF Baruch Fund Blue Gate Superannuation Fund Carnegie Family Super Fund Chiddingfold SMSF Childs Family Super Fund
Dardy Super Fund Dowell Super Fund
The Fit & Thriving Super Fund Goosander Retirement Fund Gorell Superannuation Fund GrahamHeatherStokes Super Fund
Grinter Super Fund Harman ROPS Fund
The Chartered Institute of Payroll Professionals
Payroll: need to know
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