SIPP tax relief

4
Found 24th Jul
I have a SIPP that I opened up quite recently. I realise that after 6-8 weeks I will receive tax relief upon my initial investment which was shares in a bank. If I were to pay into the cash aspect of the SIPP does this qualify for tax relief?
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I presume that the cash will stay in the SIP rules and you will not be able to make withdrawals from it. Then you should be able to get tax relief but remember that the first 20% is claimed buy you SIP provider and if you are a higher rate tax payer then you will be able to claim the rest via your tax return.
Edited by: "sydney871" 24th Jul
Yes.
sydney8711 h, 56 m ago

I presume that the cash will stay in the SIP rules and you will not be …I presume that the cash will stay in the SIP rules and you will not be able to make withdrawals from it. Then you should be able to get tax relief but remember that the first 20% is claimed buy you SIP provider and if you are a higher rate tax payer then you will be able to claim the rest via your tax return.


Why under the sipp rules could you not withdraw it if you were over 55.
snoopy185 h, 36 m ago

Why under the sipp rules could you not withdraw it if you were over 55.


You can withdraw if over 55 under the sip rules . Should have added this .
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