Rates, SIPP fees Find out more about the rates and charges for the Barclays Stockbrokers SIPP (Self Invested Personal Pension) account.
SIPP rates and charges

Barclays Stockbrokers SIPP rates and charges

Find out about our interest rate changes below

Barclays Stockbrokers SIPP account administration charges

  • SIPP: £155 + VAT per annum (£38.75 + VAT per quarter)
  • Child SIPP: £77.50 + VAT per annum (£19.37 + VAT per quarter)

This fee represents: £125 + VAT per annum (£62.50 + VAT per annum for a child SIPP) paid to AJ Bell Management Ltd for the provision of the SIPP wrapper and £30 + VAT per annum retained by Barclays Stockbrokers in relation to your SIPP investment account.

All account administration charges are subject to VAT at the prevailing rate. Account administration charges are taken in arrears and apply per account.

No account administration charge is payable when you only hold funds from our Funds Market.

Online dealing charges

Here are our online dealing charges for all investment types, except fixed income investments, non EQS Foreign Securities, unit trusts and OEICs:

Deals per calendar month Commission
​1 – 9 ​£11.95
10 - 19 £8.95
20 + £5.95

You pay an initial commission rate each month. This is determined by the number of deals in the previous calendar month. When you hit the next tier, you’ll be switched to the lower commission rates. To remain in the new tier, you have to maintain the required number of deals per month. Your deal count is the total number of telephone and online deals.

Telephone dealing charges

Here are our telephone dealing charges for all investment types except non EQS Foreign Securities, unit trusts and OEICs:

Deal value Commission
​£0 - £500 ​​£17.50
£501 - £1,500 £35
£1,501 - £2,500 £50
£2,501 - £20,000 £65
£20,001 - £75,000 £75
£75,001 - £1,000,000 ​0.1%
£1,000,001 + ​on application

Automatic Dividend Reinvestment

Automatic Dividend Reinvestment purchases are charged at a flat rate commission of 1% with a minimum of £1 and maximum of £7.50.

Funds

​Charge Type ​Barclays Stockbrokers Funds Market Others Funds​
Initial charge
(on your investment amount)
​Free ​Varies by fund manager and fund
(typically 3-5.5%) No payments are made to Barclays Stockbrokers
Fund Administration Fee ​0.35% per annum subject to a minimum charge of £35 per annum per account. The fee is calculated on the daily value of Qualifying Fund holdings, up to a maximum of £500,000. There is no further charge on fund holdings over £500,000. ​0.35% per annum subject to a minimum charge of £35 per annum per account. The fee is calculated on the daily value of Qualifying Fund holdings, up to a maximum of £500,000. There is no further charge on fund holdings over £500,000.
Selling charge ​Free ​Free
Qualifying funds are:
  • Clean share classes
  • Bundled share classes purchased after 5 April 2014
  • Bundled share classes where you have opted out of the conversion to the clean share class.

UK Stamp Duty Reserve Tax

Stamp duty reserve tax (SDRT) is payable at the prevailing rate at the time of dealing when you buy:

  • shares in a UK company
  • shares in a foreign company with a share register in the UK
  • an option to buy shares
  • rights arising from shares already owned
  • an interest in shares, like an interest in the money made from selling them

The amount of SDRT you pay is worked out at a flat rate of 0.5 per cent (rounded up or down to the nearest penny) based on what you give for the shares, not what the shares are worth.

Interest rates paid on cash balances

The interest paid is banded which means that the rates below only apply to the proportion of the account balance within each band. Each band of your overall cash balance will receive different rates of interest giving a blended rate. Any interest due will be paid quarterly in arrear.

Please note that our interest rates are a Managed Rate. That means that they are a rate set by us and can be amended from time to time. Any changes may or may not be linked to moves in the Bank of England base rate.

Current interest rates

Cash Balance band ​Interest rate on this band only/AER1 Tax-free rate2 ​Net rate3
£1 - £999 ​0% 0% ​0%
£1,000 - £49,999 ​0.2% pa 0.2% pa ​0.16% pa
£50,000 and over ​0.5% pa 0.5% pa ​0.4% pa

Rates are variable

New interest rates

In line with the Bank of England’s decision to reduce interest rates, we will be reducing our interest rates on cash balances from 1 December 2016. Also, rates you receive will no longer be linked to Barclays Base Rate.

Cash Balance band ​Interest rate on this band only/AER1 Tax-free rate2
£1 - £999 ​0% 0%
£1,000 - £49,999 ​0.05% pa 0.05% pa
£50,000 and over ​0.25% pa 0.25% pa

Transfers ​

All charges below are subject to VAT at the prevailing rate.

Transfer in (cash or in specie) £75 per Transfer
(max aggregate charge of £375 per Account irrespective of number of Transfers in)
Transfer Out (cash or in specie) except to a qualifying Recognised Overseas Pension Scheme (QROPS)
£75
QROPS Transfer Out Fee £250


Drawing pension benefits

All charges below are subject to VAT at the prevailing rate.

One Off Charges

Set up Flexi-access drawdown pension, and pay any lump sum benefit

£75

Set up Uncrystallised Funds Pension Lump Sum (UFPLS). Payable each time a payment is requested

£75

​Additional fund designation

​£75

Annuity purchase

£75

Payment of death benefit

Convert Capped Drawdown to Flexi-Access Drawdown

SIPP closure charge through drawdown or lump sums (e.g. UFPLS) where balance is reduced below £1,000 within 12 months of opening:

Where account was opened before 6th April 2015

Where account is opened on or after 6th April 2015

Time/Cost Basis

£75

£75

£250

Drawdown pension

Annual administration charge for Flexi – Access Drawdown and Capped Drawdown (payable even if “nil” income is paid in year)

£100 per annum (collected annually in advance)

One off payment of income outside of monthly payroll run

£25

​Review of Benefits
* Plus VAT at the prevailing rate
​£75* per review


Administration

All charges below are subject to VAT at the prevailing rate.

Interim statement or valuation Free
Copy of consolidated tax certificate

£17.50 if requested after three months of sending the original

Duplicate contract note

Free if requested within six months since deal.
£10 if requested more than six months since deal

Valuation for Probate

Price available on request

Transfer out of shares
(to another broker or as certificates)

£30 per holding

Remaining administration charges

Charged pro-rata on closing
Late settlement administration charge
£40 per overdue deal
Debit interest
Barclays Base Rate + 3.5%

Tax rules can change and the benefits and drawbacks of particular tax treatment will vary with individual circumstances. Barclays is not a legal or tax adviser and is not providing you with legal or tax advice. Nothing in this document should be construed as tax advice. If you have any queries as to the legal or tax implications of any investment you should seek independent professional advice.

Remember:

  • The value of your investments can fall as well as rise and you may get back less than you initially invested.
  • Investing is not for everyone; if you are unsure please seek independent advice.

Ready to invest?

Open a SIPP

You can view the Barclays Bank Base Rate online. Or you can call Barclays Bank directly on 0845 603 0845 – please hold for an agent and ask for the current rate.

*Calls to 0808 numbers are free if made from a UK landline. Call costs to 0141 numbers may vary – please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes. Our opening hours are 7.30am-7pm Monday to Thursday, 7.30am-6pm on Friday (excluding bank holidays) and 9.30am-12.30pm on Saturday.

The Barclays Stockbrokers SIPP is provided by AJ Bell, one of the largest SIPP administrators in the UK. It doesn’t receive any payments in relation to cash held in your Barclays Stockbrokers SIPP account.

1 AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.

2 Tax-free: Indicates that interest earned on cash held in a SIPP is not subject to UK Income Tax and will be paid gross, provided all SIPP conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances

3 Net rate– Is the rate of interest which is payable after allowing for the deduction of basic rate tax currently at 20% (if applicable). This only applies to former Investment ISAs where we have been notified that the holder is deceased. Account holders should check their own tax situation, as there may be a further potential tax liability.

Remember:

  • The value of your investments can fall as well as rise and you may get back less than you initially invested.
  • Investing is not for everyone, if you are unsure please seek independent advice.

Ready to invest?

Open a SIPP


Call us on 0808 159 4953* or 0141 352 3937*

Would you like more information?

Already have a SIPP?

If you've already got have a SIPP with another provider, you can still use our Pension Trader Account for that pension.

Improved cash interest rates

We've improved interest rates on cash balances of £1,000 or more held in our Investment ISA, Corporate ISA and SIPP.

Cash interest rates


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