Transfer of tax relief due on SIPP contribution

hoc

Is tax relief handled smoothly in SIPP transfer scenarios or should this be avoided if possible until after the transfer is complete?

dunstonh

hoc said:

Is tax relief handled smoothly in SIPP transfer scenarios or should this be avoided if possible until after the transfer is complete?

If its pre-funded, then its not an issue.  If its not prefunded it can turn up after a transfer.  But then again, so can interest and dividends.  So, its not unusual to need to request a mopping up transfer 3 months down the road.  Most providers will do that without the need for new forms as they tag it onto the original transfer request.

Rich1976

If it’s anything like the experience I had with transferring out of Vanguard , the final tax relief was received a few weeks after the transfer had happened and was sitting in the Vanguard account ( which I had assumed had all been closed down because they told me by secure message it would be once the main transfer  had happened ). I only found out later on they sent a secure message to my email to say a statement was ready and when I logged back in there noticed the tax relief just sitting there. They then had to be pushed to transfer it. No idea why they didn’t  do that to start with as they would know the rest of the pension had already been transferred away.