HM Revenue and Customs (HMRC) repaid nearly £44m in overpaid pensions tax in the three months from January to March this year, newly published figures have shown.
HMRC's April pension schemes newsletter - published yesterday (24 April) - revealed it had repaid £44,003,977 covering the period from 1 January to 31 March 2025. This marked a £5.5m decrease on the amount HMRC repaid in the final quarter of 2024, which amounted to £49,514,458. The newsletter also showed 15,274 forms were submitted during this period, including 9,694 P55 forms, 4,409 P53Z forms and 1,171 P50Z forms. Analysis of HMRC's figures conducted by AJ Bell revealed the average reclaim amounted to £2,881. It also found over £1.4bn has been reclaimed by savers overtaxed on pensio...
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