The Taylor Patterson Master SIPP is designed to enable SIPP members to:
- Invest in commercial property.
- Lease property to the member's business (or to a third party)
- Borrow money for property investment.
- Act as manager of property held in the SIPP.
It is, therefore, ideally suited to those who wish to:
- Have the greatest flexibility in choosing where to invest their SIPP funds.
- Purchase property for leasing to their business or third parties.
- Control the management of their property portfolio.
The SIPP member will have direct access to Taylor Patterson's team of specialists who will guide the SIPP member through the steps involved in property purchase, the financing of property transactions with bank borrowing and the leasing of property to the member's business or third party tenants.
Key Features
- Investment in commercial property permitted.
- Leasing of property to a business connected with the member permitted.
- Borrowing for property purchase permitted.
- Members can act as property manager or appoint a specialist firm to act.
- Investment in a wide range of market securities permitted.
- Cash transfers from existing arrangements and contributions accepted.
- Partial or total crystallisation of benefits permitted.
- Members can make their own investment decisions.
- Members can appoint their own investment manager provided the latter gives appropriate undertakings to Taylor Patterson.
Scale of Charges
| Property Fees |
| Purchase: |
Taylor Patterson panel solicitor chosen - £575
Member's own solicitor chosen - £800 |
| Sale: |
To third party - £250
To connected party - £400 |
| Mortgage set up - £250 |
|
| New Lease/Renewal - £250 |
|
| Development: |
Up to 1% of cost |
| Annual: |
Member appointed property manager per property - £150 |
| |
Member not appointed property manager by agreement |
| Mortgage Administration |
per annum - £100 |
| VAT Registration - £100 |
|
| VAT Administration: |
Monthly returns, per annum - £480 |
| |
Quarterly returns, per annum - £120 |
| VAT transaction treated as "Transfer of a Going Concern" - £125 |
| Option to Tax, per property |
|
| Other Fees |
| Establishment Fee - £400 |
|
| Annual Fee, in advance - £500 |
|
| Inward Transfer payments, per transaction |
Arranged by member's IFA - £Nil
Arranged by Taylor Patterson - execution only - see note below - £75 |
| Contributions, establishment of banker's order - £35 |
|
| Contributions made by cheque or BACS, per transaction £30 |
|
In specie transfers in lieu of contributions |
Property as per property fee scale plus - £100
Market investments including AIM shares - £150 |
| Transfer to another provider's arrangement - £300 |
|
| Investments held under third party investment management agreement
in nominee names, per account per annum - £50 |
| Investments managed personally by member, per transaction - £30 |
Benefit crystallisation event including payment of tax-free cash - £375 |
Payment of pension under PAYE, per annum - £150 |
Pension benefit review - £175 |
|
A charge will be made for any other work of a non-standard or routine basis not included in above scale on a time-cost basis.
Note: In its capacity of Trustee and Administrator of the SIPP, Taylor Patterson does not give advice on the merits or otherwise of transferring benefits from other pension arrangements and will only deal with such transfers on an execution only basis. The member is recommended to take advice from an independent financial adviser on such matters.
All charges are subject to VAT and are subject to increases each year by reference to the latest published Average Earnings Index. Taylor Patterson reserves the right to amend its fee scale at any time.
Click here for our Guidance Notes on Property
Click here to Download the Key Features |
