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Call us for further information on:
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0116 240 4402
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or alternatively email us at:
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ifa@greyfriars.co.uk
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Fees for Self Invested Personal Pensions (SIPP)
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Our SIPP is available to you on a “no advice” basis on the following fee structure;
Establishment fee - £600 + VAT
Ongoing fees:
0.25% + VAT per annum of the gross SIPP value, taken six monthly in arrears out of the SIPP bank account and subject to;
- A minimum annual fee of £570 + VAT and;
- A maximum fee of £880 + VAT.
These minimum and maximum will increase each year on the 1st April by the Retail Price Index.
At first glance you may think our establishment fee is dearer than the industry average, but please note that, unlike many other SIPP operators, we charge our management fees six monthly in arrears, rather than annually in advance.
Furthermore, with no requirement to appoint an external property manager ours is one of the cheapest SIPPS available for property purchase.
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Whether it is a new purchase or an “in-specie” transfer, the following additional costs will apply:
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Land contamination “sitecheck” report
(this fee is payable by the client even if we subsequently have to decline to accept the property under our Trusteeship).
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£240 + VAT
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Single Property Purchase:
There will be a one-off property administration fee of £400 plus VAT covering up to two SIPPS purchasing jointly. For each additional SIPP there will be an additional charge of £200 plus VAT so, for example, if there were four SIPPS involved, the total fee would be £800 plus VAT split equally between each SIPP.
Multi Property Purchase:
The £400 fee applies per property. So, for example, two properties would cost £800 plus VAT which could potentially be split between two “SIPPS”. For each additional “SIPP”, there would be an additional £400 charge. So, for example, two properties being purchased by four SIPPS would total £1,600 plus VAT or £400 per SIPP.
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Notes
It is a condition of our Trusteeship that any property owned by a SSAS is insured by the Trustees through our block policy.
Please refer to our ‘Property Purchase Guidance Notes’ for more details.
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