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

Tax relief is a valuable benefit available to anyone contributing to a personal pension in the UK. It’s calculated based on your income tax band and how much you contribute annually.

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

Income

Your total income ‑ including employment income, as well as any rental income, bonuses, interest from savings, or dividends

Monthly contribution

£0

£900

£1,800

£2,700

£3,600

£4,500

£5,400

£6,300

£7,200

£8,100

£9,000

£1,500

Additional Tax Relief

£1,500

Relief from Government

£6,000

Your contribution

Income

Your total income ‑ including employment income, as well as any rental income, bonuses, interest from savings, or dividends

Monthly 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.

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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.)

Visit PIE

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

Costs on a DIY SIPP portfolio initially worth £80,000, assuming 12 ETF trades a year for 20 years with £10,000 annual contributions and 5% annual investment growth.

Platform

Ongoing management fee

Average Fund Costs

Total cost

£20,000 annual cost invested

InvestEngine Managed

0.25%

0.12%

0.37%

£74

Nutmeg

0.75%

0.19%

0.94%

£188

Wealthify

0.60%

0.16%

0.76%

£152

MoneyFarm

0.65%

0.20%

0.85%

£170

Hargreaves Lansdown

0.75%

£150

Fees and features as displayed on platform websites as at 19/12/24 based on a £20,000 investment. The displayed fees only include the costs charged by the respective platforms. They do not include any product fees such as ETF charges or execution 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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With investing, your capital is at risk, ETF costs apply.