Exciting news for your pension pot as Crowdstacker products can now be invested in via a SIPP.
Recently we had the great news that from next year you will be able to earn your Crowdstacker investment income tax-free through the new Innovative Finance ISA, but in the meantime there is another way for you to start earning tax-free investment income by placing your investments within your pension - allowing you to keep more of the interest that you earn. This can be done through a SIPP.
Making your pension work harder
A SIPP is a Self Invested Personal Pension and aside from the substantial tax benefits available to all SIPP holders, it allows you to manage your pensions yourself and to hold a wide range of investments within them. Crowdstacker can now help make this is available to you so that any investments you make can be held within this tax efficient structure.
Crowdstacker investments made through a SIPP are tax-free, regardless of your existing tax status. You will be able to generate more interest by investing through your SIPP rather than cash, since SIPP holders qualify for tax relief on their contributions at their highest rate of income tax.
How does it work?
We have teamed up with SIPPclub, who provide information and support to people with self-invested pensions, helping them expand their investment portfolio to include the tax free Peer to Peer lending model through the EvolutionSIPP.
EvolutionSIPP is delivered by a long-established and well respected SIPP operator, with a pedigree going back to the dawn of self-invested pensions in 1989. With a Five Star Defaqto Rating*, the SIPP operator is authorised and regulated by the Financial Conduct Authority, ensuring EvolutionSIPP is the ‘best of breed’.
If you already hold an EvolutionSIPP, then you will be able to invest in our new products by our SIPP paper application form. If you don’t already hold an EvolutionSIPP, then having first checked you are appropriate for it, SIPPclub will help guide you through the process of opening a new SIPP and where necessary, help you transfer any existing pensions to the EvolutionSIPP.
As we add more SIPP providers, we hope to be able to strengthen our offering to our customers.
Karteek Patel, Co-founder of Crowdstacker states, “This is a significant step for our customers who are seeking to diversify their investments and maximise their returns in this current climate of low interest rates offered by the banks. We see this as a great feature to help you maximise your investment income.”
At Crowdstacker you can bypass the banks and become a lender directly to medium-sized established British businesses and in return earn higher rates of interest on your money. Investors can browse from our available investments and choose the businesses that they want to lend to, how much they want to lend and the target rate of interest. Many investments have a minimum investment amount of about £750 and offer interest rates of between 4.5% and 8%.
Through the EvolutionSIPP you can now hold these peer to peer business investments within your SIPP. If you have a SIPP or are considering starting one and would like to find out more information about becoming a peer to peer lender through Crowdstacker, please call us on 020 7118 7570 or email us at email@example.com