Best next move with £20k

Alexland

Abelle20 said:

But if I can’t find something with a better return, then yes, it would make sense to put more there. I suppose I am investigating alternatives first. 

Have you investigated the investment options in your workplace pension? As your employer operates salary sacrifice to also save the national insurance then it is more efficient to contribute via payroll into the workplace pension than directly into a SIPP (or workplace pension if they also offer direct contributions). If you want more choice of funds then the scheme rules may allow you to partially transfer out lump sums into a SIPP etc if you feel confident enough to go DIY.