Tommy Shelby, a Member of Parliament, leads the Peaky Blinders, a powerful Birmingham gang. He's approached by Oswald Mosley, a charismatic fascist leader, who wants Tommy's support. Tommy, however, secretly plans to use Mosley's rising movement as a way to infiltrate and destroy it from within.

The season's central conflict revolves around Tommy's elaborate plot to assassinate Mosley at a rally. This plan involves betraying his own family and allies. Key turning points include Colonel Ben Younger being killed by a car bomb, and Tommy's decision to use his war comrade, Barney, as a sniper.

Ultimately, Tommy's assassination attempt fails due to betrayal. Barney is killed, and Aberama Gold is brutally murdered. The season ends with a devastated Tommy, overwhelmed by his failures and haunted by visions, holding a gun to his own head.

Season 5 of Peaky Blinders covers episodes 1-6. Here's everything that happened:

Season 5, Episode 1: Black Tuesday - The Shelby family is rocked by the 1929 Wall Street Crash, severely impacting their legitimate businesses. Tommy, now an MP, navigates political intrigue and is approached by Oswald Mosley. The episode sees the Peaky Blinders violently dealing with a pimp in Chinatown. The episode concludes with Tommy ordering the assassination of a journalist, Mr. Levitt, who was investigating his past. Tommy also experiences disturbing hallucinations of Grace.

Season 5, Episode 2: Black Cats - Tommy finds a scarecrow and landmines on his estate, a menacing message from the new rival gang, the Billy Boys. Michael Gray returns from America with Gina, facing Tommy's intense scrutiny regarding his loyalty. The Billy Boys brutally murder Bonnie Gold, crucifying him as a declaration of war. A devastated Aberama Gold is left vowing revenge against the new enemy.

Season 5, Episode 3: Strategy - Tommy and Polly confront abusive nuns at an orphanage. Tommy, Arthur, and Michael meet Oswald Mosley, who attempts to provoke Arthur by revealing details about Linda. Linda confides in Lizzie about seeking a divorce, leading to Arthur brutally assaulting her new suitor. Polly frees Aberama Gold, who declares war on the Billy Boys by pouring tar on one of their members. Tommy agrees to be Mosley's deputy, planning to act as an informant. The episode concludes with Aberama's camp exploding, igniting an all-out war with the Billy Boys.

Season 5, Episode 4: The Loop - Tommy navigates dangerous alliances, making a truce with McCavern and a deal with Chinese opium smugglers. Mosley's past with Lizzie is revealed at her birthday party, adding tension. The episode culminates in a dramatic confrontation where Linda attempts to shoot Arthur, but Polly intervenes, shooting Linda to protect her family.

Season 5, Episode 5: The Shock - Linda survives Polly's gunshot, recovering before ultimately abandoning Arthur. Oswald Mosley uses Tommy's party to publicly announce his new fascist political movement. Colonel Ben Younger is killed by a car bomb, an event that deeply affects Tommy. Tommy then visits his old war comrade, Barney, in an asylum, revealing his plan to use Barney as a sniper to assassinate Mosley. The episode concludes with Tommy's firm resolve to eliminate Mosley.

Season 5, Episode 6: Mr Jones - Tommy Shelby's elaborate plan to assassinate Oswald Mosley at a rally unravels due to a betrayal. Despite assistance from Alfie Solomons, the attempt fails, leading to Barney's death and Aberama Gold being brutally stabbed to death. The episode concludes with a distraught Tommy, overwhelmed by his failures and tormented by visions of Grace, holding a gun to his own head in a field.