How Do I Create a SIPP?

We will require a fully completed SIPP application form, RBS account mandate and anti money laundering documents.

New business will only be accepted from regulated independent financial advisers.

What are the minimum and maximum contributions for a SIPP?

Contributions can be paid into the scheme by the member (or another person on behalf of the member) or an employer. There is no limit on the amount of member contributions that may be paid into the SIPP but there is a limit on the amount of tax relief a member may receive on contributions paid by, or on behalf of the member.

Member contributions are restricted to the greater of the individual’s relevant UK earnings or £3,600 (subject to the annual allowance of £40,000 2018/2019).

There is no set limit on the amount of tax relief that an employer may receive in respect of its contributions into the SIPP but tax relief is not automatic (subject to the annual allowance of £40,000 2018/2019).

Can existing pension arrangements be received by a SIPP?

A SIPP can receive transfers from most other pension arrangements that a member may hold, although we would recommend that financial advice be taken prior to any action.


The flexibility upon retirement is a huge appeal of a SIPP product. Retirement can be deferred indefinately and the member can continue to work once in receipt of benefits. Under the current rules a member can take their benefits from the age of 55 years (earlier if on the grounds of ill health). A tax-free lump sum can be drawn from the fund upon retirement equal to 25% of the fund value.

Death Benefits

The fund can be paid to a nominated beneficiary on death and is usually free from inheritance tax. In the event of death the fund is distributed either to provide a spouses/ dependents pension or as a lump sum payment (tax charges may apply).

What are Permissible Investments in a SIPP?

You and your adviser are responsible for making investment decisions.

The majority of investments held within a SIPP are predominantly free from income tax, corporation tax and capital gains tax.

The following are permissible investments in a GPC SIPP;

  • Cash Deposits.
  • Authorised Unit Trusts, OEICs & AIMs.
  • Trustee Investment Plans.
  • Stocks & Shares quoted on the Stock Exchange.
  • Gilts or other Loan Stocks.
  • UK Commercial Property & Land.

NB. The GPC SIPP does not permit investment in residential property, however we have found the following exceptions to the residential property rules (certain parameters apply, please call for more information);

  • UK Student Accommodation.
  • Youth Hostels.
  • UK Hotel Rooms.
  • UK Nursing Homes.
  • UK Golf Courses.
  • UK Farms.
  • UK Development Land.
  • Shop with a flat (although the flat cannot ultimately be owned by the SIPP).

Commercial Property & Land included in a SIPP

One of the most popular features of a SIPP is the ability to purchase commercial property with or without the assistance of borrowings. The trustees can borrow up to an Inland Revenue maximum of 50% of the net value of the SIPP fund.

The property can be purchased from either a connected party or from a completely independent third party. The SIPP can also purchase a property jointly with another individual or another entity. The property can be leased to the member’s own company (on commercial terms) or indeed a third party.

Other Considerations.


A SIPP is a flexible way to save for retirement. It enjoys the generous tax breaks of any other pension scheme but in addition allows the member to retain control of his investment strategy and offers the member a number of options on retirement in a most flexible manner.

What Our Customers Say

GPC SIPP turned what were muddy waters into a crystal clear pool. I like to understand the rationale of the decisions that I make. I have already recommended GPC SIPP to two of my closest friends.

Tony Raynor, Abbey Telecom Ltd