SIPPs


The BIG Benefit

The tax benefits of SIPPs are fantastic. Your contributions are joined by a government gross up of 20% or more, so that you effectively are investing pre-tax. As an example, assume you are in a 20% income tax bracket. If you contribute £8,000 to your SIPP, the Government will contribute, through your SIPP Administrator, £2,000, bringing your total pension value to £10,000. All income and Capital Gains from investing that £10,000 is also tax free! *

* Note: tax laws may change.

“A-Day”

Up to 5 April 2006 the amount you may invest in your SIPP was related to your income and age. With effect from 6 April 2006 (known as 'A Day'), the rules governing SIPPs have changed; more investment types have become eligible, and contribution limits have become more flexible.

SIPP accounts at iDealing.com
... the advantages over other offerings

Choose your own SIPP Administrator / Trustee

iDealing offers one of the broadest arrays of securities and financial instruments to UK Investors. Subject to any SIPP trustee restrictions, iDealing's breadth of investment types gives you tremendous flexibility in your SIPP management. Some SIPP Administrators will also allow you to hold unlisted assets such as property.

iDealing Direct Access

Through an iDealing SIPP account you can (subject to eligibility) trade directly on the London Stock Exchange's SETS order book to enable you to deal at better prices and in greater quantities than those available from traditional UK stockbrokers. Please see iDealing Direct Access for details.

Low Commission

iDealing SIPPs benefit from the same highly competitive commission structures as do our other account types. See our Commission Schedule, and our Services and Prices for details.

SIPP Adminstrators, SIPP Trustees, and iDealing SIPP Operations

You are required to appoint a 'SIPP Administrator' to administer your SIPP, and a SIPP Trustee to act as the Trustee of your SIPP.

SIPP Administrators are specialist firms: some are wholly independent, some are part of a larger financial services group. The SIPP Trustee is frequently (but not always) part of the same group as the SIPP administrator. Together they ensure that your pension fund adheres to all UK pension rules and legislation.

While you are the beneficiary of your SIPP, your SIPP account is actually owned by the SIPP Trustee, and iDealing's legal relationship with respect to the SIPP account is with the SIPP trustee. Your legal relationship with your SIPP trustee is as beneficiary, and independent of iDealing's.

The SIPP Trustee may grant you permission to operate some aspects of your SIPP account directly via the iDealing website. Apart from any contractual obligations defined in the Third Party Authorisation form, iDealing has no legal relationship with you, the SIPP beneficiary, with respect to your iDealing account. You are effectively recognised as an an agent appointed by the Trustee to instruct iDealing on some operations on the SIPP Trustee's account.

The SIPP Administrator has full agent authority over the account, and iDealing will act on any instruction from them. Assets (including cash and securities) may be transferred into or out of a SIPP Account only by instruction of the SIPP Administrator. The SIPP Administrator and/or the SIPP Trustee may also choose to restrict certain investment types within your SIPP.

Choosing a SIPP Administrator/Trustee

SIPP Administrators provide different levels of service to cater for different requirements. SIPP Administrator services and fees can vary greatly. If your SIPP Administrator/Trustee of choice is not currently registered with iDealing, email sipp@idealing.com and we'll contact the administrator to start the registration process.

Click here for the SIPP administrator/trustee list.

Opening an iDealing SIPP Account

  1. You may apply online for a SIPP Account with iDealing. If you already have another type of account at iDealing, applying for a SIPP Account will only take a few moments to complete. You will need to select from our list of registered SIPP Administrators as part of the account application process (see Choosing a SIPP Administrator / Trustee for more information). If your SIPP Administrator/Trustee of choice is not currently registered with iDealing, email sipp@idealing.com and we'll contact the administrator to start the registration process.
  2. As the Trustee of your SIPP, is the legal owner of the SIPP we will send you a "Third Party Authorisation" form for you to sign and return to enable the SIPP trustee to grant you trading and other operating permissions on the account.
  3. On return of the Third Party Authorisation form, iDealing will forward it to the SIPP Administrator/Trustee for them to sign and return. If you haven't already appointed them as trustee, they will contact you for the information they require. Once the Administrator has signed the form your account will be up and running.

Click here to apply for an iDealing SIPP Account.