Self Invested Personal Pension

A SIPP gives you all the standard tax benefits of a pension, but you get a greater investment choice which can help spread your money further and reduce your risk. You can invest up to £40,000 in your SIPP for the 2022/23 tax year. 

Already decided?

Start a SIPP

Why should I invest in a SIPP?

  • Your investments will be free from UK tax including capital gains and income tax.
  • 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.
  • 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. You’ll find a transfer form in our application pack. If you are not sure about transferring, seek independent advice.

Find out more about our SIPP

Why should I choose IWeb?

  • 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% foreign exchange rate still applies)
  • Low admin costs – quarterly account charge of £22.50 if the SIPP value is £50,000 or less, and £45 if the value is above £50,000
  • Our SIPP is administered by AJ Bell – an award-winning pension provider 

 

SIPP benefits

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 minimise your investment risk.
  • In the IWeb SIPP you can choose from over 3,000 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.

How to start a SIPP

Completing our application

Step 1 – Start your application online.

Step 2 – Download and print our application form and post to the AJ Bell address provided.

Step 3 – Alternatively you can scan the original signed form and send via email to iwebsipp@sippdeal.co.uk. Electronic signatures or photographed forms cannot be accepted. If you have completed a transfer request as part of your application, please post the original signed Transfer Form to AJ Bell.
 

Start a SIPP

Useful forms

  • Additional contribution – To complete if you wish to contribute a lump sum or start a regular contribution.
  • Transfer form – Transfer an existing pension or SIPP to us.
  • Transfer in drawdown – Transfer a pension already in drawdown.

Find out more about our useful forms

AJ Bell logo

Our SIPP is administered by AJ Bell.

Ready to apply for a SIPP?

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.

New to Share Dealing?

Start your SIPP. You will just need your address, debit card details, national insurance and a printer to print our application form.


Open a SIPP

Already a Share Dealing customer?

Simply sign in to apply. Once you’ve accessed your Share Dealing Account, click on ‘Open a new account’ in the right-hand navigation.


Sign in to Share Dealing

FSCS logo

Investments with Halifax Share Dealing Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme. This limit is applied to the aggregated total of any stock or cash held across the following brands which we administer.

This is in addition to any other savings deposits you may hold across Lloyds Banking Group.

Do you need a little more information?

International trading

AJ Bell Management Limited is the Scheme Administrator of the IWeb Share Dealing SIPP. AJ Bell Management Limited is registered in England No. 3948391. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE.

Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA register number 211468. Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No. 4050222. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.

Dealing and stock broking administration services are provided by the IWeb Share Dealing Service which 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.