{"id":502869,"date":"2025-10-16T01:05:11","date_gmt":"2025-10-16T01:05:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/502869\/"},"modified":"2025-10-16T01:05:11","modified_gmt":"2025-10-16T01:05:11","slug":"state-pensioners-given-3815-each-with-one-hmrc-claim-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/502869\/","title":{"rendered":"State pensioners given \u00a33,815 each with one HMRC claim | Personal Finance | Finance"},"content":{"rendered":"

You could get a huge \u00a33,815 back from HMRC after some retirees have been temporarily shortchanged. The error impacts retirees making flexible withdrawals from their pensions<\/a>.<\/p>\n

Experts at AJ Bell say that pensioners<\/a> could have been shortchanged by over a billion pounds in total due to a quirk in HMRC<\/a>\u2019s systems. AJ Bell says that figures showed that in April, May and June this year Brits reclaimed \u00a349million of money where they have overpaid tax on their pension<\/a> withdrawals.<\/p>\n

Nearly 13,000 reclaim forms were processed, with an average reclaim of \u00a33,815.<\/p>\n

This took the total amount of reclaimed tax to \u00a31.5billion since 2015, when the problem first began.<\/p>\n

However, the figures only capture those who fill in the relevant HMRC<\/a> reclaim form.<\/p>\n

Many Brits rely on HMRC<\/a> to sort their end-of-year tax to get their money back. If you have been overtaxed, you can get your money back.<\/p>\n

If you\u2019re planning to take a single withdrawal in a tax year, you can avoid being overtaxed by taking a notional withdrawal first.<\/p>\n

This is when you make a small transaction which will be coded with the tax code for that \u201cMonth One\u201d withdrawal.<\/p>\n

Following this, HMRC<\/a> should be able to issue the correct tax code to the second, bigger withdrawal.<\/p>\n

However, if your pension provider only allows you to remove a larger amount, you might still need to claim the tax back on that amount.<\/p>\n

If you\u2019d rather claim the money back a different way, you can make your first withdrawal and then fill out a HMRC<\/a> form.<\/p>\n

After filling out the form, you should get your money back in 30 days.<\/p>\n

Finally, if you don\u2019t do this, HMRC<\/a> should put you back in the right tax position at the end of the financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"You could get a huge \u00a33,815 back from HMRC after some retirees have been temporarily shortchanged. The error…\n","protected":false},"author":2,"featured_media":502870,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,1016,28594,2499,1786,14666,164821,16,15],"class_list":{"0":"post-502869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-hmrc","11":"tag-pension-withdrawals","12":"tag-personal-finance","13":"tag-state-pension","14":"tag-state-pensioners","15":"tag-tax-reclaim","16":"tag-uk","17":"tag-united-kingdom"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/502869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=502869"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/502869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/502870"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=502869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=502869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=502869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}