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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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SIPP Fees and Services
(on a "full advice" basis)
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Establishment fee - £600 + VAT
Ongoing Annual Management Fees (non property assets):
- 0.75% plus VAT on the first £250,000
- 0.50% plus VAT on the next £250,000
- 0.25% plus VAT on all excess funds
Property within the SIPP charged at 0.25% plus VAT p.a. on it's gross value.
These annual fees will be taken six monthly in arrears out of the SIPP bank account and subject to a minimum annual renewal fee of £1,030 plus VAT. This minimum fee will be reviewed on 1st April each year.
These fees cover:
Acting as SIPP Operator, Scheme Trustee and Scheme Administrator
All routine administration and documentation
Liaison with HMRC including quarterly and annual returns
Six monthly reports and valuations
Annual Statutory Money Purchase Illustrations
GAD pension reviews
Payment of pension and PAYE
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Property Transaction Charges
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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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One Scheme - Property purchase/acquisition without mortgage (per property):
There will be a one-off property administration fee of £400 plus VAT.
One Scheme - Property purchase/acquisition with mortgage (per property):
There will be a one-off property administration fee of £600 plus VAT.
Two or more Schemes administered by GAM - Property purchase/acquisition without mortgage (per property):
There will be a one-off property administration fee of £600 plus VAT covering two Schemes with an extra £200 plus VAT charged for each additional Scheme involved. The total cost would then be split equally between the Schemes. For example, if three GAM Schemes are involved, the total cost woul be £800, split between the three Schemes.
Two Schemes administered by GAM - Property purchase/acquisition with mortgage (per property):
There will be a one-off property administration fee of £800 plus VAT covering two Schemes with an extra £300 plus VAT charged for each additional Scheme involved. The total cost woul then be split equally between the Schemes. For example, if three GAM Schemes are involved, the total cost would be £1100, split between the three Schemes.
Any other proposals involving joint ownership of property between one or more Schemes and another entity - with or without mortgage:
Such transactions are individually costed depending upon their complexity and the circumstances of the case. Please contact us to discuss.
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Notes
It is a condition of our Trusteeship that any property owned by a SIPP is insured by the Trustees through our block policy.
Please refer to our 'Property Purchase Guidance Notes' for more details, in particular, our requirements regarding legal advice.
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(Revised April 2011) |
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