AJ Bell - SIPP tax relief payment not made

236dave

Hi,
My wife opened a SIPP with AJ Bell in January, paying £3,200 in to it. The SIPP shows an additional £800 tax relief as pending.
According to AJ Bell's site the tax relief should have been paid by the 25th February, see link https://www.ajbell.co.uk/faq/how-tax-relief-reclaimed-my-sipp-contributions

She is 57 years old, and only earns just over £4k/yr, and wishes to withdraw the SIPP before the tax year ends, as she will benefit from the tax relief and still remain well within her annual tax allowance.

She did contact AJ Bell's online chat, to be told the tax relief wouldn't be paid until 25th March?  She made them aware of their own payment schedule as per link above, and they then suggested she email them.  An email was sent to the email address given by the online chat, requesting the tax relief be paid quoting the attached link (their payment schedule).  The email was sent yesterday morning, but as yet there's been no reply.

If AJ Bell don't reply back what can she do?
AJ Bell's SIPP withdrawl can take 5-10 days according to their site. (can this be trusted?)
If the tax relief is delayed until 25th March, it jeopardises getting the SIPP withdrawl in this tax year.

Advice is appreciated.
Thanks

Asghar

As per your link, what date was the payment made in January, was it on or before the 5th on January?

If it was from the 6th onwards then the tax relief would not be received from HMRC till the 25th March.

236dave

Hi Asghar,
Should be February.
This is taken from the link...

If we receive your SIPP contribution on or before the 5th of the month, we’ll pay the tax relief into your account on the 25th of the following month.

Payment into SIPP made on 11th January.
So tax relief should be paid on th 25th of the following month which is February.
Hope this clarifies.

Linton

236dave said:

Hi Asghar,
Should be February.
This is taken from the link...

If we receive your SIPP contribution on or before the 5th of the month, we’ll pay the tax relief into your account on the 25th of the following month.

Payment into SIPP made on 11th January.
So tax relief should be paid on th 25th of the following month which is February.
Hope this clarifies.

Err is that right?  Your payment was after the 5th of January so the "following month" is March.

Asghar

236dave said:

Hi Asghar,
Should be February.
This is taken from the link...

If we receive your SIPP contribution on or before the 5th of the month, we’ll pay the tax relief into your account on the 25th of the following month.

Payment into SIPP made on 11th January.
So tax relief should be paid on th 25th of the following month which is February.
Hope this clarifies.

You are reading it wrong. You made the payment on 11th January.

If you had made the payment on the 5th of January or before, only then would you have received the tax relief the following month, which would be February.

As the payment was after the 5th, it would come under the next cut off, which is 5th February (the cut off is the 5th of every month), for the tax relief to be paid near the end of March,

Exodi

236dave said:

Hi Asghar,
Should be February.
This is taken from the link...

If we receive your SIPP contribution on or before the 5th of the month, we’ll pay the tax relief into your account on the 25th of the following month.

Payment into SIPP made on 11th January.
So tax relief should be paid on th 25th of the following month which is February.
Hope this clarifies.

It appears you've misunderstood your quote 236dave.

You made the payment after the 5th of the month.

236dave

Hi All,
Thanks for the replies, much appreciated!

I have re-read the web page, and I see what you mean.  Teaches me for skimming over it.
Having said that, the web page confused their own employee when I queried it via chat box, who suggested I take it up further via email.