Greek bank closure sends FTSE 100 tumbling

The FTSE 100 closed down by just under 2 percent today suffering a 133 point fall following news that Greece is to close its banks for the week. During this period, banks have imposed capital controls which will see cash withdrawals being limited to approximately £42 per day from ATMs […]

Understanding SIPP charges

Understanding SIPP charges is important when selecting a SIPP provider as the wrong choice could cost thousands extra in charges. Whilst SIPP providers will vary in terms of their peripheral charges, it is important for investors to understand the key SIPP charges across providers: Set-up fee – many currently charge […]

What assets an be held in a SIPP?

A SIPP permits the holding of a wide variety of assets. These assets include but are not limited to; shares listed on a UK or foreign exchange, unit trusts, investment trusts, commercial property, government securities and some national saving and investment products. Direct investment into residential property through a SIPP […]

What is the SIPP allowance?

The SIPP allowance for the 2015/2016 tax year is a maximum of £40,000. Just like any other type of a pension, a SIPP has defined contribution allowance criteria per year and over a lifetime. It is important to understand that this £40,000 annual allowance is inclusive of government contributions. An […]

Understanding SIPP tax benefits

The major SIPP benefits are those associated with SIPP tax benefits. Besides the ability to be in total control of their pension pot, a SIPP offers the following tax benefits specifically: Tax-relief on contributions. If a basic-rate taxpayer invests £8,000 in a SIPP, the government adds £2,000 (20%). Higher-rate tax […]