last updated1st February 2018

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up feenil
Annual fee£595 standard investments only

£675 if plan holds one or more non-standard investments
Transfer in feeNone if transfer is in cash
Transfer out feenil if in cash or in-specie transfer out of standard investments,

In-specie transfer out of non-standard investments:

UK DFM/Bonds/Brokerage : £125 per asset

Non-UK
DFM/Bonds/Brokerage:
£150 per asset

Non-regulated/specialist/unlisted securities:
£500 per asset
In-specie transfer in feeStandard investments : nil

In-specie transfer in or out of non-standard investments:

UK DFM/Bonds/Brokerage : £120 per asset

Non-UK
DFM/Bonds/Brokerage:
£145 per asset

Non-regulated/specialist/unlisted securities:
£490 per asset

UK Property:
£550 per event
Taking benefits
Flexi-Access Drawdown intial set up: Nil

Ad hoc pension income instruction processing: £50 per event

Capped Drawdown review/additonal designation:
£160 per arrangment

Annual Drawdown fee:
£195
Annuity purchase fee£145 per event
Payment of death benefits fee£350
Other feesSingle contribution by cheque, £150 per cheque

Varying a regular contribution, nil

Standard investment transactions, UK listed securities, regulated collective investments,
nil

Standard investment transactions, non-UK listed, £250 per transaction

Non-regulated collective investments transactions, £400 per transaction

Specialist investments /collectives, £400 per transaction

UK unlisted shares, £750 per event

Non-UK unlisted shares, £1,250

Other assets, quoted in advance on a case by case basis

UK unlisted shares annual administration fee £170

Annual loan administration fee £165

Annual offshore holdings administration, £200 per holding

Non-UK currency handling, £50 per transaction

Third party custody risk, £50 per holding per annum

Divorce / sharing order, £600

Scheme wind up, £125 per member

Transfer out, UK resident, £125 per member

Transfer out, non-UK resident, £250 per member

Plan closure within 12 months, £250 per event

Closed plan administration, £50 per event

Management

Access: Direct or via IFABoth

Online capability

Details

Permitted Investments

Commercial property
Unit trusts & OEICSAll platforms allowed
External deposit accountsUnrestricted access to all 'sippable' 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
ETFsAll stockbrokers allowed
Investment trustsAll stockbrokers allowed
Discretionary managementUnrestricted access
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans

Property purchase

Purchase feeDue Dilligence fee in advance, £150 per asset

Full purchase, £475
Partial purchase, £850
Sale feeFull sale, £475
Partial sale, £850
Annual property administration feeOffice building, single tenant, £365

Office building, multi-tenant, and master lease, £485

Non-office commercial, master lease, £485

Land, £310

Overseas, £1,200

Property management:

Self-managed risk premium, £200 per member, per annum

Block insurance facilitation, £20 per policy per annum

Non-block insurer risk premium, £150 per policy per annum
VAT registration fee£200
VAT return fees£80 per event
Other feesMortgage arrangement / re-arrangement fee, £100

Annual administration / monitoring of mortgage, panel lender, £185

Annual administration / monitoring of mortgage, non-panel lender, £220

Non standard borrowing fee (from as non regulated third party) £800

Final repayment of borrowing £150

Change of tenant, nil

Change of insurer to a non-preferred provider, £50

Drawing up deeds, £250

Uninsured property fee, £200 per event

Valuation default surcharge, £300 per event

Connected party supplement, £75 per annum per member

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rateTBC

Structure

Scheme trusteesHornbuckle Mitchell & Member, Sole Trustee arrangements also available
Scheme administratorHornbuckle Mitchell

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipPrivately owned
Year established1982
Funds under managementCirca £3.4 billion as at January 2018
Number of SIPPs administeredCirca 15,200 as at January 2018

Transfers

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

Misc

Yes
Flexi Access Drawdown/UFPLS offered?Yes
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Hornbuckle Mitchell SIPP

Hornbuckle Mitchell has been trading since 1982 and currently has approximately 115,200 Self Invested Personal Pensions (SIPPs) with assets under management in the region of £3.4 billion. Hornbuckle Mitchell also offers Small Self Administered Schemes (SSAS) as an alternative to SIPPs.

Hornbuckle Mitchell offer two SIPPs, the Full SIPP and the Single Investment SIPP.

The Full SIPP has a wider range of allowable investments including commercial property.

The Hornbuckle Mitchell Full SIPP is available for investors who wish to transact directly with Hornbuckle Mitchell and also through IFAs. There is no minimum contribution for regular, lump sum or transfer payments.

The mandated SIPP bank account is held with Bank of Scotland, with significantly below average interest rates, although investors who hold the Hornbuckle Mitchell Full SIPP can access any external SIPP deposit account.