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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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SSAS Fees and Services - on a "full advice" basis
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Initial fee |
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£1,700 + VAT
(see note 1)
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Renewal fee
(charged annually in arrears) |
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£1,354 + VAT
(see notes 1 & 2) |
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Scheme Takeovers with full Rule Update
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Initial fee |
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£1,450 + VAT
(see note 1 & 4)
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Renewal fee
(charged annually in arrears) |
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£1,354 + VAT
(see notes 1 & 2) |
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Scheme Takeovers without Rule Update
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Initial fee |
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£1,150 + VAT
(see note 1 & 4)
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Renewal fee
(charged annually in arrears) |
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£1,354 + VAT
(see notes 1 & 2) |
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- Covers up to two scheme members. Additional members charged at £100 + VAT each.
- Renewal fee increases by R.P.I.
- New scheme entrants other than at date of establishment charged @ £575 + VAT each.
- We’ve done our best to keep the scheme takeover fees to an absolute minimum as your client may well have paid an initial set up fee to someone else.
Unfortunately, taking over a SSAS involves much more work than setting up a new one and we also incur the legal cost of the Deeds and Rules. If we get asked to take over the scheme close to its year end it may avoid paying the current provider’s annual renewal fee so the client could incur no extra costs to switch to us.
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Core Services included in above fee structure
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- Acting as Professional Trustee and joint Scheme Administrator.
- All routine administration.
- Quarterly and Annual Revenue returns.
- Annual Trustees Meeting.
- Annual Scheme Valuation.
- Annual Invoicing for rent.
- All liaison with Inland Revenue.
- Investigation of existing pension schemes.
- Maintaining detailed scheme records.
- Quinquennial review of GAD rates.
- Payment of Pensions and tax.
- Pensions Registrar fee.
- Additional fees will be charged on a time costed basis for non-routine administration.
- Data Protection registrar fee.
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Additional Fees and Services
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- Additional Trustees Meetings
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Time Costed
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- Additional Scheme Valuations
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£100 + VAT
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- Arranging and documenting loanback
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£250 + VAT
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- Each quarterly invoice
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£30 + VAT
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- Additional rental invoice
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£25 + VAT
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- Actuarial and legal work
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Time Costed
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- Purchase/Sale of stocks and shares
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£15 per transaction + VAT.
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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 SSASs purchasing jointly. For each additional SSAS there will be an additional charge of £200 plus VAT so, for example, if there were four SSASs involved, the total fee would be £800 plus VAT split equally between each SSAS.
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 “SSASs”. For each additional “SSAS”, there would be an additional £400 charge. So, for example, two properties being purchased by four SSASs would total £1,600 plus VAT or £400 per SSAS.
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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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We are happy to give our Trustees investment advice and in most cases do. We seek to be remunerated separately for this service. Most investments are placed in Trustee Investment Plans (TIP’s) and our standard commission structure is;
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- 3% of amount invested and 0.5% renewal commission.
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Our Discretionary Fund Management (DFM) service is also available to Trustees. Fees are;
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- 3% of initial amount invested.
- Up to 1% plus VAT p.a. of portfolio value taken quarterly in arrears with all commission reinvested into the portfolio.
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