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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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£1,825 + VAT
(see note 1)
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Renewal fee
(charged annually in arrears) |
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£1,381 + 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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£1,560 + VAT
(see note 1 & 4)
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Renewal fee
(charged annually in arrears) |
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£1,381 + VAT
(see notes 1 & 2) |
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- Covers up to two scheme members. Additional members charged at £100 + VAT each.
- Renewal fees subject to review.
- 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.
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Additional Fees and Services
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- Additional Trustees Meetings
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Time Costed |
- 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 loanback interest 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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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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Single Property Purchase:
There will be a one-off property administration fee of £400 plus VAT covering up to two SSAS's purchasing jointly. For each additional SSAS there will be an additional charge of £200 plus VAT so, for example, if there were four SSAS's 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 SSAS's. For each additional SSAS, there would be an additional £400 charge. So, for example, two properties being purchased by four SSAS's would total £1,600 plus VAT or £400 per SSAS.
Single Property Sale:
There will be a one off property sale administration fee of £300 plus VAT per SSAS.
Multiple Property Sale:
The £300 fee applies per property. So, for example, two properties would cost £600 plus VAT.
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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.
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Discretionary Fund Management (DFM)
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We are pleased to be able to offer this service whereby, 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.
If you prefer, you can simply invest in one or more funds on the platform and review their performance at each Trustees meeting.
Either way, our fee is 1% p.a. of the value of the portfolio (no VAT), funded by the portfolio, and with no initial set up charge.
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Trustee Investment Plans (TIPs)
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Alternatively we can access TIPs with reputable insurance companies with the performance of these products reviewed on an annual basis. Our standard commission structure is;
- 3% of the amount invested and 0.5% p.a. trail commission.
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(Revised: April 2009).
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