Why should I invest in a SIPP?
Any contributions to your SIPP will automatically receive 20% in basic rate tax relief, and if you don’t pay tax, HM Revenue & Customs (HMRC) will still contribute to your SIPP - for example if you contributed £2,880 in a tax year, HMRC will pay £720 into your SIPP.
You can also invest up to £40,000 per year (or more if you haven’t used your annual allowance from the last 3 tax years).
At the age of 55 you can start taking an income from your SIPP, including a 25% tax-free lump sum.
Higher rate tax payer?
You can claim up to 25% (If you're a Scottish or Welsh tax payer this could differ) on your tax return if you are a higher/additional rate tax payer.
*46% in Scotland
Tax treatment depends on personal circumstances and may be subject to change.