Bisnis berkembang pesat untuk Peaky Blinders, karena Shelby mulai memperluas operasi legal dan ilegal. Dia berencana untuk masa depan, melihat mengelola trek balap di Selatan. Dia segera menemukan beberapa musuh baru, mengujinya dengan cara yang sangat berbeda. Kembali ke Birmingham, kampung halaman Shelby ditantang oleh anggota keluarganya yang bereaksi terhadap peningkatan kekayaan mereka. Seorang musuh dari masa lalunya juga kembali berharap untuk melaksanakan rencana balas dendam mereka sesuai dengan proporsi alkitabiah.

Arthur leads the Peaky Blinders takeover of London's Eden Club. Sabini decides to put old feuds to one side, convincing Alfie to one side to get rid of the Peaky Blinders. Tommy hires May Carleton to train his race horse, and the pair become fast friends. In Birmingham, Michael joins the family firm, hoping to help Tommy's businesses become more legitimate. Whilst Tommy's insecurities are intensified as he discovers what Major Campbell wants him to do.

Arthur and Michael both end up arrested and imprisoned. As Tommy's base in London is obliterated. Major Campbell has Tommy and his family under his thumb. Polly compromises herself hoping to secure Michael's freedom, but their relationship may be beyond repair at this point. Someone from Tommy's past pays him a visit, opening old wounds and leaving him to make a impossible decision.