The Tax Benefits of a SIPP
There are significant tax benefits to investing in a SIPP.
The government contributes 20% of every gross contribution you pay - meaning a £1,000 investment in your SIPP costs you just £800.
If you're a higher or additional rate taxpayer, the tax benefits could be even greater.
In the above example, higher rate (40%) taxpayers could claim back as much as a further £200 via their tax return. Additional rate (50%) taxpayers could claim back as much as a further £300.
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