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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.
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 £1,000 plus VAT. This minimum fee will be reviewed on 1st April each year.
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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 SIPP's purchasing jointly. For each additional SIPP there will be an additional charge of £200 plus VAT so, for example, if there were four SIPP's 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 SIPP's. 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.
Single Property Sale:
There will be a one off property sale administration fee of £300 plus VAT covering up to two SIPPs selling jointly. For each additional SIPP, there will be an additional charge of £150 plus VAT, so, for example, if there were four SIPPs involved the total fee would be £600 plus VAT split equally between each SIPP.
Multiple Property Sale:
The £300 fee applies per property. So, for example, two properties would cost £600 plus VAT which could potentially be split between two SIPPs. For each additional SIPP there would be an additional £300 charge. So, for example, two properties being sold by four SIPPs would total £1,200 plus VAT, or £300 per SIPP.
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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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- Acting as SIPP Operator, Professional Trustee and Scheme Administrator.
- All routine administration and documentation.
- Liaison with HMRC including quarterly and annual returns.
- Six monthly valuations and reports.
- Annual Statutory Money Purchase Illustrations.
- Quinquennial GAD reviews
- Payment of pensions and tax
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Investment Advice
We are happy to give our clients investment advice and in most cases do. Traditionally Trustees have accessed the investment market via Trustee Investment Plans (TIPs) offered by all the leading insurance companies. These investments are then reviewed at each Trustees meeting. They are placed on a nil commission basis.
Alternatively, we are pleased to be able to offer clients our Discretionary Fund Management (DFM) service using the Selestia platform. We will select, monitor and manage a portfolio of funds, in line with the Trustees attitude to risk. We will make changes to the portfolio as appropriate including risk re-balancing and provide you with six monthly valuations. You can also go online to view the investments at any time.
Our fee for this service is 0.25% p.a. of the value of the portfolio (no VAT), funded by the portfolio, and with no initial set up charge
(Revised July 2009) |
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