HM Revenue & Customs (HMRC) repaid £44.1m in overpaid pensions tax in the three months from January to March 2026, according to newly-published government figures.
In its April pension schemes newsletter, published last week (23 April), HMRC said it repaid £44,139,097 in the period from 1 January to 31 March 2026, which amounted to less than the £46.2m repaid in Q4 2025 and £48.5m in Q3 2025. HMRC's newsletter showed it processed 13,942 forms during the quarter which consisted of 9,291 P55 forms, 4,048 P53Z forms and 603 P50Z forms. Spectre of overtaxation Analysis of the government's figures by AJ Bell showed the amount that savers have reclaimed since pension freedoms were introduced in 2015 is "within touching distance" of surpassing £1....
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