Hornbuckle Mitchell SIPP

Last updated: 22nd June 2020

Charges Charges are subject to VAT although shown excluding VAT

Initial/Set up fee

Nil

Annual fee

Full SIPP
£660 standard investments
£740 non-standard investments

Single Investment SIPP
£230 Standard investment
£500 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: £500 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: £520 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, £425 per transaction

Specialist investments /collectives, £425 per transaction

UK unlisted shares, £795 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 £210

Annual loan administration fee £215

Annual offshore holdings administration, £265 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, £425

Office building, multi-tenant, and master lease, £530

Non-office commercial, master lease, £530

Land, £345

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

£90 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, £215

Annual administration / monitoring of mortgage, non-panel lender, £240

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 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.