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Our Self-Invested Personal Pension can help you take control of your pension. A SIPP gives you all the standard tax benefits of a pension, but you get a greater investment choice which can also help spread your money further and reduce your risk.
With so many options, it can be hard to choose where to start. That's why, working with AJ Bell, our SIPP administrators, we offer a SIPP Start-Up Fund. The fund aims to help people save for retirement through steady growth over the long term.
We’ve created a tax benefits example to help simplify and show how this can 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.
Need a little more information? Our Investing quick guide (PDF, 723KB) could help you.
Investments with Bank of Scotland Share Dealing 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 that we administer.
This is in addition to any other savings deposits you may hold across Lloyds Banking Group.
AJ Bell Management Limited is the Scheme Administrator of the Bank of Scotland 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 Bank of Scotland 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.