SIPP provider with quick recovery of Basic rate tax?

zagfles

Sillychuckie wrote: »

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

I doubt it's HMRC - HL have always paid the tax rebate as per the HMRC timetable. See this thread about II - people were also complaining about dividends etc so they seem to be having admin problems: https://forums.moneysavingexpert.com/discussion/4904374

chrisw2k

Hi Zagfles

I'm also having the same problem with my III SIPP. Its rather strange as up until November the tax reclaims were being credited to my account on a monthly basis, and then suddenly stopped. I've queried it a few times and had the same reply blaming HMRC..

They also don't seem to be able to tell me which tax reclaim matches with which payment. The notes are always different and I have two suggesting they are may tax relief..

This month they haven't even manage to credit my normal DD payment to my account despite it leaving my bank on the 1st!! waiting over a week for a reply. A few months back they took two DD payments.

They are beyond useless.