Why Would I Consider a SIPP?
The SIPP benefits from all the usual tax advantages available to pension schemes in the UK. Tax can be saved on payments-in, on investments made and on withdrawals.
We are authorised and regulated by the Financial Conduct Authority (FCA) to provide our SIPP. It is also registered with His Majesty’s Revenue & Customs (HMRC).
A SIPP is defined by HMRC as a “member-directed” pension scheme. This enables you to manage the investment decisions taking responsibility for the type of investments made, when to buy, when to sell and monitoring their ongoing performance, often utilising the services of an Independent Financial Adviser.
We always suggest that you obtain financial advice from a regulated financial adviser before deciding what to do with your retirement arrangements.
The Investments allowed are called “standard assets” which are determined by the FCA.
A standard asset must be capable of being accurately and fairly valued on an ongoing basis and readily realised (i.e. sold) within 30 days whenever required. This means we may need to refuse some investments such as specialist commercial property or fixed term deposits of more than 30 days.
There is a broad range of investment choice:
Cash.
Either held in our main SIPP bank account or in separate bank accounts chosen by you. This is restricted to UK banks.
UK Commercial property.
UK Commercial property and land. This can be purchased, let, developed and sold.
In Addition, Your SIPP can Borrow.
Your SIPP can borrow up to 50% of its (net) value at any time. This will be commercial borrowing usually to assist with property purchase.
Quoted shares, unit trusts, open ended investment companies (OEICs) and investment trusts.
These are purchased and held via UK FCA regulated stockbroking accounts, investment fund platforms and discretionary fund managers. You can choose any firm with whom we have an arrangement.
Insurance company investment funds.
These are purchased using investment accounts with insurance companies. You can choose any firm with whom we have an arrangement.
Gold Bullion.
This is purchased from dealers with whom we have an arrangement. They will also hold the bullion in secured vaults on your behalf.
