In readiness for the 2024/25 tax year end on 5 April 2025, if your clients are intending to make pension contributions or receive any benefit payments prior to the end of the current tax year, this page provides key information regarding our cut-off dates for receipt of cleared funds and access to supporting documentation.
Please note, if these requirements are not met, we cannot guarantee that the transaction you wish to make will fall into the current tax year.
Pension contributions which qualify for the 2024/25 tax year need to be cleared in the pension trustee bank account by 5pm on Friday 4 April 2025 at the latest.
If you haven’t yet established an Option SIPP or a Full SIPP for a client that wants to make a contribution in the current tax year, it is possible to establish the SIPP as late as Friday 21 March 2025 and still make the contribution by Friday 4 April 2025.
In addition, the supporting pension contribution form must also be received by us by 5pm on Friday 4 April 2025 at the latest. This form is available in the literature section of our website for the Option SIPP, Full SIPP and any of our closed legacy products. The form can be returned via email to [email protected], alternatively you an post it to us at Provincial House, 37 New Walk, Leicester, LE1 6TU.
Please note that bank transfers can take up to five working days depending on your client’s bank. We recommend therefore contacting their bank in advance if you wish to contribute by bank transfer.
Cheque contributions can take up to seven working days to clear and therefore should arrive at our Leicester office no later than Tuesday 25 March 2025 to allow sufficient time. For more details on the cheque clearing process please contact your client’s bank for details. If we receive either the funds or the supporting form after the respective cut-off date, the contribution may not qualify for the current tax year.
Note: if your client has a Hornbuckle SIPP there is a fee of £150 + VAT for processing cheques.
In order to pay pension benefits in the current tax year, fully completed applications and instructions must be received by us no later than Monday 10 March 2025. Funds must also be available in the scheme bank account by Wednesday 26 March 2025 for us to make the payment.
Benefit payment requests need to be submitted prior to these dates, together with any valuations as required, to allow sufficient time for us to complete all necessary statutory checks and calculations relating to the payment. If you require clarification for a particular pension scheme, please contact us. The form can be returned via email to [email protected], alternatively you an post it to us at Provincial House, 37 New Walk, Leicester, LE1 6TU.
If we receive cleared funds or the supporting documentation after the respective cut-off date, we may not be able to make the payment in the current tax year.
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