Hornbuckle Mitchell SIPP
Last updated: 23rd December 2020
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
Nil
Annual fee
Full SIPP
£690 standard investments
£775 non-standard investments
Single Investment SIPP
£240 Standard investment
£525 Non-standard investment
£10 per month for any non-advised member
Transfer in fee
None if transfer is in cash
Transfer out fee
Nil 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: £550 per asset
UK resident, £125 per member
non-UK resident, £250 per member
In-specie transfer in fee
Standard 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: £550 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/additional designation: £160 per arrangment
Annual Drawdown fee: £195
Annuity purchase fee
£145 per event
Payment of death benefits fee
£350
Other fees
Single 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, £450 per transaction
Specialist investments /collectives, £225 per annum
UK unlisted shares, £825 per event
Non-UK unlisted shares, £1,325
Other assets, quoted in advance on a case by case basis
UK unlisted shares annual administration fee £225
Annual loan administration fee £230
Annual offshore holdings administration, £275 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
Plan closure within 12 months, £250 per event
Closed plan administration, £50 per event
Management
Access: Direct or via IFA
Both
Online capability
Details
Permitted Investments
Commercial property
Full SIPP only
Unit trusts & OEICS
All platforms allowed
External deposit accounts
Unrestricted access to all 'sippable' deposit accounts
Overseas listed stock and shares
All stockbrokers allowed
UK listed stocks and shares
All stockbrokers allowed
AIM shares
All stockbrokers allowed
Gilts/corporate bonds
All stockbrokers allowed
ETFs
All stockbrokers allowed
Investment trusts
All stockbrokers allowed
Discretionary management
Unrestricted access
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Third party loans
Property purchase
Purchase fee
Due Dilligence fee in advance, £150 per asset
£475 per property or part property
£850 Hotel or leisure investment
Sale fee
£475 per property or part property
£850 for Hotel or leisure investment
Annual property administration fee
Office building, single tenant, £450
Office building, multi-tenant, and master lease, £560
Non-office commercial, master lease, £530
Land, £375
Overseas, £1,200
Property management:
Self-managed risk premium, £250 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
£95 per event
Other fees
Full property management £2,000pa Self Managed Risk Premium £240 pa per property
Mortgage arrangement / re-arrangement fee, £100
Annual administration / monitoring of mortgage, panel lender, £230
Annual administration / monitoring of mortgage, non-panel lender, £250
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, £100 per annum per member
SIPP Bank Account
SIPP bank account provider
Bank of Scotland
Current interest rate
TBC
Structure
Scheme trustees
Hornbuckle Mitchell & Member, Sole Trustee arrangements also available
Scheme administrator
Hornbuckle Mitchell
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
Privately owned
Year established
1982
Funds under management
£3.5 billion as at May 2020
Number of SIPPs administered
20,500+ clients as at May 2020
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Misc
Flexi Access Drawdown/UFPLS offered?
Yes
Notes
Disclaimer
The information within this section is for your general information purposes only and does not constitute investment advice. It is not an offer to purchase or sell any particular asset and it does not contain all of the information which an investor may require in order to make an investment decision. Please obtain professional advice before entering into any new arrangement. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the information of this site.