New SIPP Account - when is tax money added?

[matohak]

So I've created a new SIPP account and filled in an Options UK form several weeks ago.

I haven't had any feedback after filling out the Options UK form but had deposited a small amount of money in.

When should I start seeing tax money being added to SIPP?

Edited February 28, 2023 by matohak

[matohak]

*A page on IG says "The basic rate tax will be claimed by us from HMRC and credited to the SIPP cash account after 6 to 11 weeks" - is there a minimum amount we need to add for IG to start to claim tax from HMRC and credit it into the account?

[MongiIG]

Hi @matohak

Kindly note that the basic tax rate will be claimed by us from HMRC and then credited to the SIPP cash account after 6 to 11 weeks. Should you pay the basic rate which was 20% in 2021/22, you can claim the extra tax relief by contacting the HMRC. 

All the best - MongiIG