Convert SIPP Personal to SIPP Business

Help & FAQs
1

Hello All

My first post.

I have just begin investing into SIPP via Invest Engine. This is on an InvestEngine personal account.

However, my accountant has advised me to invest in the SIPP product through my limited company as I am the company director. This will enable me to save on corporation tax. I understand that a tax rebate from HMRC will not apply as I am investing via the business route.

I wanted to understand how the above switch can be accomplished.

Thanks
poper

2

simple answer but is it possible to have 2 SIPP accounts?

3

You can have as many SIPP accounts as you want as long as you don’t breach your applicable paying in threshold.

Tax on your private pension contributions: Tax relief - GOV.UK Tax on your private pension contributions: Tax relief - GOV.UK

4

For simplicity, I would like to maintain just one SIPP account(business). I don’t know if InvestEngine can perform this switch for me.