Why choose a SIPP?

Please remember that the value of an investment and the income from it can go down as well as up and you may get back less than you invested.

We don't provide advice so if you are in any doubt about making your own investment decisions we recommend you seek advice from a suitably qualified financial adviser.

SIPPs are a pension product and you will not be able to withdraw your funds until you reach the age of 55.

A SIPP, or Self Invested Personal Pension, is a tax-friendly and flexible way to save for your retirement. With the Halifax SIPP you get access to a wide range of investments to help you build a tax-efficient portfolio that meets your needs.

You can pay in a lump sum or regular amounts and trade whenever you like, whilst receiving the tax benefits of a traditional personal pension.

Trade online with Halifax for just £12.50 dealing commission per trade or you can set-up a regular investment plan and pay just £2.00 dealing commission per trade.

View our charges

The portfolio of investments that you build up within your SIPP will hopefully grow over time to provide you with an income for your retirement.
Our SIPP is provided by AJ Bell, one of the leading pension providers in the UK.


Tax relief

SIPPs are one of the most tax-efficient ways of saving for retirement and you can invest up to the annual allowance for tax relievable pension contributions, currently £40,000. As always please bear in mind that tax relief will depend on your individual circumstances and tax laws may change.

  • Receive up to 45% tax relief on your contributions.
  • Take up to 25% of your pension fund as a tax-free lump sum from the age of 55.
  • Pay no Capital Gains Tax or Income Tax on your investment growth.

UK tax laws and individual personal circumstances can change. If you are resident in Scotland for tax purposes the tax relief you will be entitled to will be at the Scottish Rate of income tax, which may differ from the rest of the UK.

The level of tax relief you can claim depends on your tax rate.

Tax relief table

Basic rate tax payer (20%)

Higher rate tax payer (40%)

Additional rate tax payer (45%)

Your investment

£800

£800

£800

Tax relief automatically received

£200

£200

£200

Tax relief claimed through annual tax return

N/A

£200

£250

Your investment


Basic rate tax payer (20%)

£800

Higher rate tax payer (40%)

£800

Additional rate tax payer (45%)

£800

Tax relief automatically received


Basic rate tax payer (20%)

£200

Higher rate tax payer (40%)

£200

Additional rate tax payer (45%)

£200

Tax relief claimed through annual tax return


Basic rate tax payer (20%)

N/A

Higher rate tax payer (40%)

£200

Additional rate tax payer (45%)

£250

You will automatically receive 20% in basic rate relief paid to your SIPP. If you are a higher/additional rate tax payer you can then claim an additional 20% or 25% (depending on your tax rate) via your tax return.


Non tax payer?

Even if you don’t pay tax, you’re still entitled to tax relief at the same rate as a basic rate taxpayer. The maximum you can claim relief on is £2,880 per tax year. If you contribute £2,880, you’ll receive £720 tax relief making the overall contribution into your SIPP £3,600.


Things to consider

  • The value of investments can fall as well as rise. You may get back less than the amount invested.
  • The tax-efficiency of a SIPP depends on your individual circumstances and tax rules may change.
  • SIPPs are a pension product and you will not be able to withdraw your money until you reach the age of 55.
  • We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Adviser.

Interest rates

The Self-Invested Personal Pension (SIPP) will pay interest as gross.

BalanceAERInterest Rate (Gross)Interest Rate (Net)
£1 and above 0.50% 0.50% N/A

*Please note that the interest rate payable on our Self-Invested Personal Pension (SIPP) follows the Bank of England Base Rate. We will amend our interest rate as soon as is practically possible following a change in the base rate - the current rates that are applicable are shown above.


Apply for a Halifax SIPP

Before you apply for an account please make sure you’ve completed our checklist:

Open a SIPP


Transferring your existing pension

Already got a pension elsewhere? Transfer your account and benefit from online commission rates of £12.50 and a quarterly administration charge from £22.50.


AJ Bell Management Limited is the Scheme Administrator of the Halifax Share Dealing SIPP. AJ Bell Management Limited is registered in England No. 3948391. Registered Office: AJ Bell Management Limited, Building 4, Exchange Quay, Salford Quays, Manchester, M5 3EE. Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA registration number 211468. Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No. 4050222. Registered Office: AJ Bell Management Limited, Building 4, Exchange Quay, Salford Quays, Manchester, M5 3EE. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.

Dealing and stock broking administration services are provided by Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.