SIPP | IWeb Share Dealing Service

How does it work?

  • You choose how much to save, how you want to invest it and how much you take out from age 55 (57 from 2028) onwards
  • Choose from over 2,900 funds, shares, investment trusts and more to build your own portfolio
  • Trade on 7 UK and International markets
  • Our SIPP is administered by AJ Bell

Why open an IWeb SIPP?

  • Your investments will be free from UK tax including capital gains and income tax
  • Protect your estate from paying up to 40% inheritance tax with a SIPP
  • Manage your whole pension pot in one place, simply transfer other pensions to your SIPP

What will I pay?

  • Free to open – there is no account opening charge
  • £5 dealing commission per trade – on UK markets and funds
  • No international dealing commission online (1.5% FX rate still applies)
  • Quarterly account charge of £22.50 if the SIPP value is £50,000 or less, and £45 if the value is above £50,000

Why save into a pension?

  • The state pension as of 2022/23 pays £185.15 per week* which is less than the average retirement income according to the Government’s most recent data**
  • Money that you would have paid in income tax goes toward your future instead
  • You can take up to a quarter of your pension savings as a tax-free lump sum when you retire

Investment options

  • Having a diversified portfolio can be one of the simplest ways to lower your investment risk
  • In the IWeb SIPP you can choose from over 2,900 funds, shares, investment trusts and more to build your own portfolio. You’re in control of what you buy and sell

Find out more about your investment options

Advantages of a SIPP?

  • Helps you save tax efficiently for your retirement
  • Gives you freedom to choose where you want to invest your money and spreads your risk
  • Provides income in the form of lump sums and/or regular income
  • Reduces inheritance tax so you can pass on more of your money

Self-employed?

  • If you work for yourself then you’re in charge of your own retirement pot, so it’s even more important to pay into your own pension
  • Building up your pension savings is a challenge in the current climate but a SIPP could help
  • You’ve made a choice in life to be more independent. Adding money to a pension can help make sure that continues, whenever you decide to stop working

Find out more about our SIPP

Example 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 bracket

Non-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 bracket

Basic 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 bracket

Higher 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 bracket

Additional 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.

AJ Bell logo

Our SIPP is administered by AJ Bell.

Pensions are a long-term investment. The retirement benefits you receive from your pension account will depend on a number of factors including the value of your account when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your account could fall below the amount paid in. Tax treatment depends on individual circumstances and may be subject to change in the future.

SIPP

  • Tax-friendly and flexible way to invest for your retirement
  • Receive 20% basic rate tax relief automatically and (depending on your tax band) claim a further 20-25% via your tax return
  • Quarterly account charge of £22.50 for SIPPs valued up to £50,000 (£45 for all others)
Apply for a SIPP

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.