Home| last updated | 26th August 2011 |
|---|---|
Charges | Charges are subject to VAT although shown excluding VAT |
| Initial/Set up fee | £295 |
| Annual fee | £490 |
| Transfer in fee | None if transfer is in cash |
| Transfer out fee | £95 if in cash £250 for in specie transfer (excluding property) out plus £125 per asset transferred |
| In-specie transfer in fee | £100 plus £50 per asset |
| Income Drawdown | Initial fee: £95 plus, £145 if fully vesting, £195 if partially vesting, £245 for phased retirement Ongoing: £145 per year |
| Additional Income Drawdown fees | None |
| Annuity purchase fee | £145 |
| Payment of death benefits fee | £800 |
| Other fees | Single contributions £30 Starting and variations to regular contributions £30 In specie contribution fee £550 Investment transactions 330 per transaction (maximum £300 per year) Non standard investment transactions £295 Implementing divorce / sharing order £600 Unlisted share purchase £800 Unlisted shares annual fee £195 UK unlisted shares sale £800 Third party loans £800 Annual loan administration fee £145 |
Management | |
| Access: Direct or via IFA | Both |
Online capability | |
| Details | New system to be launched in quarter 3 2011 with full online valuation capabilities |
Permitted Investments | |
| Commercial property | Yes |
| Unit trusts & OEICS | Yes, all platforms allowed |
| External deposit accounts | Yes, unrestricted access to all 'sippable' deposit accounts |
| Overseas listed stock and shares | Yes, all stockbrokers allowed |
| UK listed stocks and shares | Yes, all stockbrokers allowed |
| AIM shares | Yes, all stockbrokers allowed |
| Gilts/corporate bonds | Yes, all stockbrokers allowed |
| ETFs | Yes, all stockbrokers allowed |
| Investment trusts | Yes, all stockbrokers allowed |
| Discretionary management | Yes, unrestricted access |
| National Savings & Investments | Yes |
| Unlisted shares | Yes |
| Structured products | Yes |
| Trustee Investment Plans | Yes |
| Insurance company funds | Yes |
| Hedge funds | Yes |
| Traded endowment plans | Yes |
Property purchase | |
| Purchase fee | £800 per property |
| Sale fee | £600 per property |
| Annual property administration fee | £200 per property |
| VAT registration fee | £200 |
| VAT return fees | £200 per year |
| Other fees | In specie property transfer fee £850 Standard borrowing fee £250 Non standard borrowing fee (from as non regulated third party) £800 Final repayment of borrowing £250 Annual admin fee per additional letting £100 Building development fee £600 |
SIPP Bank Account | |
| SIPP bank account provider | Bank of Scotland |
| Current interest rate | First 0-£49,999.99, 0.1% Next £50,000- £499,999.99, 0.12% Over £500,000, 0.15% |
Structure | |
| Scheme trustees | Hornbuckle Mitchell & Member, Sole Trustee arrangements also available |
| Scheme administrator | Hornbuckle Mitchell |
Minimum contributions | |
| Regular payments | Nil |
| Transfers/Single Premiums | Nil |
| Min additional | Nil |
Company Information | |
| Ownership | Privately owned |
| Year established | 1982 |
| Funds under management | Circa £2 billion |
| Number of SIPPs administered | Circa 13,000 |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | Yes, if IFA advised |
Misc | Yes |
| Flexible Drawdown offered | No, but planned to be offered from quarter four 2011 |
| Notes |
