What is Form P50?
Form P50 can be used to claim a tax rebate if you have recently been made redundant or lost your job.
Depending on your level of income you may be able to claim back all of the tax you have paid or a portion of it up to the point you stopped work.
It is common to overpay income tax if you were employed through PAYE and stopped work during the tax year which starts on 6 April each year and ends on 5 April the next.
The form P50 can only be accepted by HMRC in some circumstances so you are best to check that your situation meets the criteria before sending your claim to the tax office.
When do I use a P50 form?
You can only submit form P50 to HMRC after your fourth week of unemployment. There are a number of circumstances that are covered by the P50:
- If you have gone back to study full-time.
- If you don’t think you’ll be going back to work (maybe because of redundancy).
- If your period of unemployment has been for 4 weeks or more.
- If you don’t claim Jobseeker’s Allowance, Taxable Incapacity Benefit or Contribution-based Employment and Support Allowance. These are all taxable benefits.
How do I know if I am due a tax rebate back?
Our tax refund calculator can help you estimate if you have overpaid income tax and you can use the HMRC tax checker tool which is online and can be used as many times as you want.
How do I submit the P50 form to HMRC?
You have the option to fill out and submit the P55 form electronically by accessing it through your online government gateway account.
If you don’t have a user ID and password for the government gateway, you can easily create one when you begin using the service.
Alternatively, you can choose to download the form and mail it to HMRC at the address Pay As You Earn HM Revenue and Customs BX9 1AS.
Do I send my P45 to HMRC with my P50?
Form P45 confirms your income and tax figures from your last employer. When you complete a P50 you will be asked to provide parts 2 and 3 of your last P45.
Along with your P45 you will need some basic personal information like your national insurance number (NINO) and employer PAYE tax reference number all of which can be found in your personal tax account or the HMRC app.
How do I receive my P50 tax rebate?
HMRC generally take around 14 days to reply to you after they have received your P50 form.
If you are entitled to a tax rebate HMRC will typically send you a payable order to you or your nominee if you choose someone else to receive the funds.
What do I do if I can’t use a P50 form for my tax rebate claim?
There are several situations where a P50 is not the appropriate method of obtaining your tax rebate:
- You need a different form from HMRC, called a P53, if you got a small pension lump sum payment. This could be called a small pot or a trivial communication payment.
- You have two options if you get an occupational pension. You can either apply to HMRC for your rebate after 5th April, or you can apply to your pension provider for the repayment.
- A Pension Flexibility Payment has its own rules and may require form P53Z.
- If you are claiming one of the taxable benefits mentioned above, then Jobcentre Plus will deal with your rebate. You should submit your claim after the next April 5th or when your claim ends, whichever comes first.
- If you are about to start a new job in the next 4 weeks, then your next employer will sort out the repayment through the salary system. You just need to give them parts 2 and 3 of your P45 when you start.
Is a P50 and a P50Z the same form?
The P50 and P50Z are different forms serving separate purposes. Form P50Z should be used if you have in the current tax year you have flexibly accessed and emptied your pension pot, and have a P45 from your pension provider.
