Self Invested Personal Pension
Take control of your retirement and invest up to £40,000 per tax year into a tax efficient pension account.
Apply for a SIPPExample of tax benefits
Tax benefits can seem complicated so here’s one example of how it could work in practice. Please note, tax treatment depends on individual circumstances and may be subject to change in the future. We do not give tax advice and as tax relief is dependant on individual circumstances the amounts we show may vary to your own.
|
Your tax bracket |
Your contribution |
Government top-up (20%)Paid into SIPP account |
Further tax reliefClaimed through annual tax return |
Total tax relief |
|---|---|---|---|---|
Your tax bracketNon-earner (max contribution) |
Your contribution£2,880 |
Government top-up (20%)Paid into SIPP account£720 |
Further tax reliefClaimed through annual tax return£0 |
Total tax relief£720 |
Your tax bracketBasic rate (20%) |
Your contribution£6,000 |
Government top-up (20%)Paid into SIPP account£1,500 |
Further tax reliefClaimed through annual tax return£0 |
Total tax relief£1,500 |
Your tax bracketHigher rate (40%) |
Your contribution£6,000 |
Government top-up (20%)Paid into SIPP account£1,500 |
Further tax reliefClaimed through annual tax return£1,500 |
Total tax relief£3,000 |
Your tax bracketAdditional rate (45%) |
Your contribution£6,000 |
Government top-up (20%)Paid into SIPP account£1,500 |
Further tax reliefClaimed through annual tax return£1,875 |
Total tax relief£3,375 |
Please note, tax rates in the above table only apply to England and Wales.
Our SIPP is administered by AJ Bell.
The IWeb Share Dealing Service is operated by Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.