Money In

Contributions to your SIPP can either be made by you personally or by your employer. If you are a UK resident then you will be able to have tax relief on those contributions up to certain levels.

There is no minimum level of contribution.

Personal Contributions

Your own contributions, whether you are an employee or self-employed, are paid net of basic rate income tax.

If you are a UK resident, you will be eligible to have tax relief on the total amount of contributions which do not exceed the higher of:

  • £3,600 gross, and
  • 100% of relevant UK earnings in the tax year they were paid, subject to the Annual Allowance below.

We will reclaim basic rate tax relief from H M Revenue & Customs (HMRC) and add it to your Plan (this usually takes about six weeks). If you are a higher rate tax payer, then you can reclaim the higher rate tax through your personal tax return.

Company Contributions

Your employer can also contribute to your SIPP and may do so whether or not you are making personal contributions. All employer contributions are paid gross. For employer contributions to be treated as an allowable expense against Corporation Tax they must be ‘wholly and exclusively for the purposes of the business’ (subject to the Annual Allowance below).

Transfers In

You can transfer other registered pension schemes that you are a member of into your Plan. However, we can not accept transfers of protected rights or from contracted out pension schemes.