Last updated14th April 2016

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Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£450 plus £125 per member
Annual fee£900 plus £150 per member
Transfer in feeArranged by member's IFA £30

Arranged by Taylor Patterson £75
Transfer out fee£150 per transfer
In-specie transfer in feeProperty, as per property fees plus £250

Market investments £200 minimum
Taking BenefitsFlexi-Access Drawdown:

Payment of Pension Commencement Lump Sum £150

Payment of regular pension £150 per annum

Changes to frequency or amount of pension payments in a pension year £nil on the first change and £175 for second and subsequent changes

Capped Drawdown:

Switch to Flexi-Access Drawdown £75

Payment of Pension Commencement Lump Sum £150

Payment of regular pension £150 per annum

Changes to frequency or amount of pension payments in a pension year £nil on the first change and £175 for second and subsequent changes
Additional Income Drawdown feesAd hoc benefits illustrations £75

Mandatory reviews, £150
Annuity purchase fee£375
Payment of death benefits feeOn a case by case basis
Other feesChange of scheme structure:

Admission of new member to scheme, £350

Appointment of member as trustee, £100

Retirement of trustee, £250

Change of scheme name, £200

Winding scheme up, £500

Termination of appointment of Taylor Patterson, £750

Contributions:

Arranged by member's IFA, £30 per contribution

Arranged by Taylor Patterson, £75 per contribution

Investment related fees:

Additional bank accounts, £250 per year

Purchase of investment, other than property, from a connected party, £150

Investments held in FCA regulated collectives or approved Discretionary Fund Managers, £50

Unquoted shares:

Purchase or sale of unquoted shares, £200

Other fees:

Reclaim of income tax on investment income, £50 minimum

Completion and submission online of HMRC Registered Pension Scheme Return where required, £75 minimum

Provision of copy deeds and documents £25 minimum

Management

Access: Direct or via IFABoth

Online capability

DetailsOption for IFAs to have viewing rights to their clients portfolios via SIPP Web for up to date valuations. All clients have direct on line viewing rights to their Cater Allen account.

Permitted Investments

Commercial property
Overseas propertyConsidered on a case by case basis
Unit trusts & OEICSAll platforms allowed
External deposit accounts
Overseas listed stock and sharesAll stockbrokers allowed
UK listed stocks and sharesAll stockbrokers allowed
AIM sharesAll stockbrokers allowed
Gilts/corporate bondsAll stockbrokers allowed
ETFsOn a case by case basis
Investment trustsAll stockbrokers allowed
Discretionary managementUnrestricted access
National Savings & Investments
Unlisted sharesConsidered on a case by case basis
Structured productsConsidered on a case by case basis
Trustee Investment Plans
Insurance company funds
Hedge fundsConsidered on a case by case basis
Traded endowment plansConsidered on a case by case basis
Intellectual propertyConsidered on a case by case basis
Brands / TrademarksConsidered on a case by case basis
GoodwillConsidered on a case by case basis
Third party loans

Property purchase

Purchase fee£800, if Taylor Patterson approved solicitor instructed

£1,250, if member's own solicitor instructed

£400, if property purchase with a third party (non SIPP)
Sale fee£350, to a third party

£500, to a connected party
Annual property administration fee£200
VAT registration fee£100
VAT return fees£160
Other feesLease renewal / new lease, £200 if Taylor Patterson approved solicitor used, £250 if member's own solicitor used

Variation of lease, £200 if Taylor Patterson approved solicitor used, £250 if member's own solicitor is used

Property case surcharge fee, £500 minimum

Mortgage set up fee, £250

Mortgage administration, £100 per year

Property development, up to 0.5% of the cost

SIPP Bank Account

SIPP bank account providerCater Allen
Current interest rate£0 - £99,999, 0%

£100,000 - £499,999, 0.125%

£500,000+, 0.25%

Structure

Scheme trusteesTaylor Patterson Trustees Ltd plus up to three members
Scheme administratorTaylor Patterson Associates Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipPrivately owned
Year established1979
Funds under management£156 million
Number of SIPPs administered453
Defaqto ratingNot rated

Transfers

Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Taylor Patterson Group SIPP

Taylor Patterson is a leading Lancashire based pension provider specialising in the administration of bespoke pension plans.

For individuals wanting to control the management of their pension, to have a choice of investments including commercial property and considerable flexibility as to when and how they draw their pension benefits, the Taylor Patterson SIPP or SSAS offers the solution.

The Group SIPP is ideal for those wishing to pool pension resources with others. It is an individually registered pension scheme and is suitable for:

  • Partners in professional practices
  • Families wishing to pool funds to purchase property

Members can transfer their benefits in existing pension arrangements and make contributions into one single arrangement.