SIPP & SSAS

A SIPP can be used to purchase/invest in a number of assets, including commercial property. However, it is important to note that a SIPP (or SSAS) cannot purchase residential property, otherwise significant tax penalties will be charged by HMRC.

A Pension Scheme cannot acquire an interest in any residential property, so the transaction will need to be structured to ensure that any residential parts of the property are excluded from the property being acquired by the Pension Scheme, which we can assist with.

Yes, many lenders allow funding for Pension Schemes towards commercial property purchases. Each lender will have their own requirements which will also need to be complied with in addition to the Pension Scheme administrator's own requirements.

The property will usually be purchased and owned in the name of the trustees of the Pension Scheme, on behalf of the Scheme. Any actions taken by the trustees in relation to the property will be governed by the rules of the Pension Scheme.

A property can be leased to a party connected to the Pension Scheme (such as a trustee's company) although HMRC rules require the arrangement to be carried out on an "arms-length" basis. Therefore, the terms of the lease must be in line with the open market (as if it was being leased to an unconnected party) and the terms would need to be confirmed by an independent, qualified surveyor.

• Advising SIPP's on the disposal of shares in a company
• Drafting and advising on a range of security documentation including Authorised Employer Loans and Loan Agreements
• Drafting ancillary documentation including board minutes and Companies House forms

• Enforcement procedures
• Insolvency procedures
• Handling cases where liability is contested
• Advice on credit control procedures

• Assisting organisations in the implementation of stakeholder, final salary, defined benefit and auto-enrolment schemes in the workforce
• Advising on the interpretation of Scheme rules in matters of dispute;
• Representation in Pensions Ombudsman proceedings;
• Calculation and forecast of pension loss in complex litigated matters

• Drafting bespoke "spousal bypass" trusts for members to nominate pension death benefits
• Drafting bespoke trusts for minors or other vulnerable beneficiaries on the death of member
• Acting as professional trustees in situations where funds are to be held on trust for benefit of minor or other vulnerable beneficiary on death of member
• Advising Pension Fund Trustees on potential beneficiaries when members die without making a nomination
• Advising on Estate Planning for members outside of their pension arrangements