Last updated1st February 2018

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£nil
Annual fee£220 standard investments only

£475 if plan holds one or more non-standard investments

Further £10 per month for non-advised clients
Transfer in feeNone if transfer is in cash
Transfer out feeNone if transfer is in cash

In-specie transfer out of standard UK investments, £120 per holding

In-specie transfer out of standard non-UK investments, £145 per holding


In-specie transfer out of non-regulated/specialist investments, £490 per asset
In-specie transfer in feeNone if transfer is in cash

standard UK portfolio services, £120 per asset

non-UK portfolio services, £145 per holding

non-regulated/specialist investments, £490 per asset
Taking BenefitsSet up of Flexi-Access Drawdown, nil

Conversion of Capped to Flexi-Access Drawdown, nil

Ad-hoc pension income processing instruction, £50

Capped Drawdown review, additional designation, £160 per arrangement

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

Single / one off contribution by direct debit, nil

Varying a regular contribution, nil

Standard investment transactions, UK portfolio services, nil

Standard investment transactions, non-UK portfolio services, £250 per asset

Non-standard investment transactions, unregulated, £400 per asset

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

Annual offshore holdings administration fee, £210 per asset

Implementing divorce / sharing order £600

Annual loan administration fee £175


Non-UK currency handling, £50 per transaction

Annual custody fee, £50 per holding per annum

Divorce / sharing order, £600

VAT returns, £200 per annum

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 stockbrohers allowed
UK listed stocks and sharesAll stockbrohers allowed
AIM sharesAll stockbrohers allowed
Gilts/corporate bondsAll stockbrohers allowed
ETFsAll stockbrohers allowed
Investment trusts & REITS & EPUTSAll stockbrohers 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 feeN/A
Sale feeN/A
Annual property administration feeN/A
VAT registration feeN/A
VAT return feesN/A
Other feesN/A

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate

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

Ownership
Privately 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

Flexi-Access Drawdown/ UFPLS offered
NotesThe Single Investment SIPP is designed to hold one investment only

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Hornbuckle Mitchell Single Investment SIPP

Hornbuckle Mitchell has been trading since 1982 and currently has approximately 15,200 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.

As the name would suggest the Hornbuckle Mitchell Single Investment SIPP is aimed at investors who want to invest in one single asset, for example by retaining the services of a Discretionary Fund Manager, which they cannot do through a Personal Pension Plan.

Although only one asset can be held, in addition to the mandated SIPP bank account, the Hornbuckle Mitchell Single Investment SIPP does allow investment into a wide range of assets, with the exception of commercial property.

In common with the Full SIPP the Hornbuckle Mitchell Single SIPP has no minimum contribution levels for regular, transfer or lump sum payments.

The mandated SIPP bank account is held with Bank of Scotland, interest rates are below average, and because only on investment is allowed investors have little scope to improve upon this rate of interest.