Claiming your additional tax relief is easy
Use our calculator below to see how much tax relief you could be entitled to. Not got an InvestEngine SIPP? Get started below to open your account today!
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What is tax relief and who is it for
Basic‑rate taxpayers automatically receive 20% tax relief, meaning £1,000 of contributions cost just £800. Higher and additional‑rate taxpayers can claim even more, with up to 45% total relief available via self‑assessment. This valuable incentive can reduce your tax bill or even result in a rebate, making pensions more rewarding!
Try our tax relief calculator
£1,500
Additional Tax Relief
£1,500
Relief from Government
£6,000
Your contribution
This chart estimates tax relief based on your income and monthly SIPP contributions. It is not personal advice and does not confirm eligibility or pension limits. Results are a guide based on 2024/25 tax rules and may not cover all scenarios. Tax rules can change, and relief depends on your circumstances. Contributions exceeding your annual allowance may incur a tax charge. High earners or those with flexible pension benefits may have a reduced allowance. The calculator excludes Scottish tax bands.
Capital at risk
How to claim your additional tax‑relief
1. Open your InvestEngine Self‑Invested Personal Pension (SIPP)
InvestEngine’s fee‑free Self‑Invested Personal Pension (SIPP) lets you invest in ETFs without account charges, maximising your retirement savings. Enjoy tax relief on contributions and choose between self‑directed or expert‑Managed Portfolios. Opening a SIPP is quick and straightforward, providing a cost‑effective way to plan for your future.
2. Visit PIE, and start your Self‑Assessment Tax Return
Head to our partner, PIE, using the link below. Simply enter details like your contributions, salary, and tax code for the relevant tax year, and they’ll handle the rest to ensure you receive the additional tax relief you’re entitled to. (Please note: Your additional tax relief depends on your individual circumstances and may vary over time.)
3. Get your additional tax relief
Once you complete your self‑assessment, your additional tax relief is usually processed within 12 weeks as either a refund or a tax code adjustment. Don’t worry—InvestEngine and PIE are here to help! If you choose to contribute this extra relief back into your pension, you’ll benefit from tax relief again, making it an excellent way to grow your wealth even faster. (Note: Pension annual allowance rules apply.)
How we compare
2 InteractiveInvestor: £5.99 p/m up to £50,000 as part of the 'Pension Essentials' plan. £12.99 p/m after the threshold is met.
3 AJ Bell: Trading fees based 10 trades executed in the first month. Dealing charge decreases to £3.50 per trade in the following month, assuming 10 trades are placed.
4 Hargreaves Lansdown: Trading fees based on 10 trades executed in the first month. Dealing charge decreases to £8.95 per trade in the following month, assuming 10 trades are placed. No impact on 10 trades placed yearly.
The chart above compares the fees of platforms with a comparable investment solution to InvestEngine DIY, assuming a £0 starting ISA portfolio, investing £1,666.67 into five UK ETFs per month for 10 years with 7% growth per annum. Fees as displayed on platform websites as at 19 December 2024. The displayed fees only include the costs charged by the respective platforms. They do not include any product fees such as ETF charges. Some platforms may have reduced fees depending on different volumes, funding sizes or subject to additional subscriptions. The information above is for illustrative purposes only and for up to date fees you should visit their respective websites.
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