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Bed and SIPP

Using existing investments as SIPP contributions

A Bed & SIPP lets you top up your pension by using your existing investments as SIPP contributions. The process begins by you selling your investments and using the proceeds to open or top up your SIPP account. You can then buy the same investments back, select different ones or simply leave the cash in your account for future investing. Whatever you choose, you could benefit from the tax-efficiency of a SIPP on your current investments.

Why a Bed & SIPP?

The main reason to carry out a Bed & SIPP transfer is to make use of the tax benefits of a SIPP without investing any new money. As well as receiving tax relief on SIPP contributions, you can make tax-efficient investments by using your Capital Gains Tax allowance:

  • Sell an investment for profit and your returns could be covered by your CGT allowance (£11,100 for the current year)*
  • Sell an investment at a loss and you could offset any other capital gains, either now or in future

*Remember that any capital gains in excess of your CGT allowance may be subject to Capital Gains Tax. This applies to all gains made over the course of the tax year.

How does it work?

There are several ways to carry out a Bed & SIPP transfer, depending on how you currently invest.

If you are an Online Investment Service client:

  1. Sell your current investments up to the amount that you would like to contribute into your SIPP, ensuring you will not exceed your pension contribution limit. Your annual allowance will vary depending on your personal circumstances.
  2. The cash will usually appear on your ‘Available to invest’ balance after around 3 days for the sale of shares or 4 days for funds. You can then call our team on 020 7189 2400 and they will be happy to transfer the cash from your general investment account to your SIPP Account.
  3. We will send you an email when the cash has been added to your SIPP account balance and is ready to be reinvested. Once you have received the email, you can log into the Online Investment Service and make your investments*.

If you are part of our Advisory Service or Managed Portfolio Service:

Please contact your Relationship Manager in the usual way. They will be happy to answer any questions you may have and carry out the Bed & SIPP transfer for you.

*For tax purposes this payment will be considered a personal contribution to your SIPP. Therefore, you will need to sign an Additional Contribution Form before completing your Bed & SIPP transfer. Simply send this to us at the address below.

What if I don’t have a SIPP?

If you don’t currently have a SIPP with Bestinvest, it’s easy to set up one of our award-winning Best SIPP accounts. Simply click the button below to apply online in a few minutes, call us on 020 7189 2400, or download a SIPP application form and send it to us at the following address:

6 Chesterfield Gardens

Your Money readers voted us Best Direct SIPP Provider in 2015

Open a SIPP today

Important Information

SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you. Self-directed investors should regularly review their SIPP portfolio, or seek professional advice, to ensure that the underlying investments remain in line with their pension objectives. Prevailing tax rates and the availability of tax reliefs are dependent on your individual circumstances and are subject to change. Please note the term Best is a brand name of the Bestinvest SIPP.


Past performance is not a reliable indicator of future returns

The value of your investment can go down as well as up, and you can get back less than you originally invested.

The Bestinvest Online Investment Service, including any account analysis and investment reports provided by our guidance services, is an online execution-only dealing service for investors who want to make their own investment decisions. It does not provide advice on the suitability of products and investments; if you are unsure about the suitability of any investment you should seek professional advice. Clients of our Investment Advisory Service and Managed Portfolio Service can use the website to obtain current valuations of their investments but cannot trade on these accounts online and should call their adviser if they wish to discuss changes to their investments.

Past performance or any yields quoted should not be considered reliable indicators of future returns. Restricted advice can be provided as part of other services offered by Bestinvest, upon request and on a fee basis. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

Issued by Bestinvest (Brokers) Limited (Reg. No. 2830297), which is authorised and regulated by the Financial Conduct Authority. Financial services are provided by Bestinvest (Brokers) Limited and other companies in the Tilney Bestinvest Group, further details of which are available here. This site is for UK investors only.
© Tilney Bestinvest Group Ltd 2016.

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