SIPP provider with quick recovery of Basic rate tax?

Thrugelmir

dunstonh wrote: »

That may not sound a lot but the difference in costs between platforms is not a lot either and many people make decisions based on a lot less than 0.09%. So, a 0.35% platform with prefunding could result in a higher fund value than a 0.30% platform investing in the same fund without prefunding.

The net result is that prefinancing comes at a cost to the investor. I pay a flat fee of some £120 per year on my SIPP. So more benefit in waiting 6 weeks for the tax relief than paying any "management" fees.

Shedman

I went with X-O in the end as couldn't be sure anyone would get the tax recovery in time and they are cheap for what I want to achieve as not looking for long term. will just take the tax free 25% next year and no income so achieves what I need. But thanks for the input (and debate) from everyone.

dunstonh

Thrugelmir wrote: »

The net result is that prefinancing comes at a cost to the investor. I pay a flat fee of some £120 per year on my SIPP. So more benefit in waiting 6 weeks for the tax relief than paying any "management" fees.

There are plenty of low cost options that prefund and plenty of high cost ones that dont.

zagfles

dunstonh wrote: »

There are plenty of low cost options that prefund and plenty of high cost ones that dont.

Examples? Any pre-funding ones with charges similar to £120pa? (obviously including any intermediary charges if they are required by the platform)

dunstonh

Any pre-funding ones with charges similar to £120pa?

yes there are.

Kendall80

Cottage_Economy wrote: »

Just to give you a better idea of when you'll get it, a transaction I made into a BI SIPP on 3rd November had the tax paid into that account on 31st December. Give or take a few days for Christmas it looks to be about 7/8 weeks?

Thanks for the info. I am definitely towards the upper end of that range so I might've have to shoot over a polite email soon.

zagfles

dunstonh wrote: »

yes there are.

Are there really? You seem to be unable or unwilling to provide an example. Wonder why?

dunstonh

zagfles wrote: »

Are there really? You seem to be unable or unwilling to provide an example. Wonder why?

No need to wonder. I cant be bothered to tell you because there is no point engaging you any further in discussion.

zagfles

dunstonh wrote: »

No need to wonder. I cant be bothered to tell you because there is no point engaging you any further in discussion.

:rotfl:why are you replying to me then? It's the OP who wanted to know, I'm not bothered about pre-funding. Apparently you know of a platform who pre-funds with low charges of around £120pa, but you won't tell the OP who it is. What was your motivation for posting on this thread in the first place? You've said nothing of any use to the OP. Just the usual dig at DIY platforms.

PS if you don't want to engage in further discussion, the usual way is to not reply

Sillychuckie

I'm over 6 months on now from 2 SIPP contributions with Interactive Investor, none of which have been topped up by 25%.

They continue to blame HMRC for not giving them the funds that they have claimed (despite HMRCs own website suggesting they would pay by 21st).

I have written a letter to the SIPP provider (not actually Interactive Investor, but 'The Lifetime SIPP company'), but they have not replied.

I suspect the SIPP company is just sitting on the funds and not allocating them to my account. Its a real shame given the market over the past 6 months.

I don't think I can actually go to the ombudsman about it until a full year has passed.
I'm not sure whether I should try to claim it back using my tax return (list the contribution as one made with a company who have not claimed basic rate relief).

Any further advice or suggestions appreciated.

Thanks.
SC