The Talbot & Muir SIPP
Last updated: 5th June 2025
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
Online application - Nil
Paper application - £150
Annual fee
Level 1 - £300 Single investment
Level 2 - £385 Multiple investments
Level 3 - £1,035 Multiple investments + single commercial property (externally managed)
Level 3 - £1,200 Multiple investments + single commercial property (self managed)
Transfer in fee
None, where an adviser completes the transfer requirements or via Origo
Other transfers in cash £20 per transfer (max £200)
Transfer out fee
Nil
In-specie transfer in fee
£50 per asset transferred (max £500)
Taking Benefits
Flexi Access Drawdown:
Establishing first tranche £150
Annual drawdown charge £185
Additional tranche of Flexi-Access Drawdown £150
Capped Drawdown:
Annual Drawdown Fee £150
Additional tranche £150
Uncrystallised Funds Pension Lump Sum £150
Exhausting the Fund
Nil
Annuity purchase fee
Nil
Payment of death benefits fee
Nil
Other fees
Contributions:
Single or variation of regular contribution after SIPP establishment , £20
Refund of contributions (where permitted), £20
Investment related fees:
Establishment or variation of standing order to investment account, £20 per investment, capped at £200 per annum
Establish an alternative deposit account, £20
Other fees:
Ad hoc valuations, £100
Work required to ensure compliance with changes in pension legislation and regulation, time costed
Annual meetings (where required), £200 plus travel costs
Management
Access: Direct or via IFA
Advised only business. However, Talbot and Muir are happy to liaise with clients regarding ongoing administration.
Online capability
Details
The Talbot & Muir system enables an adviser and a client to log in and view price feed valuations of current holdings held within the pension scheme.
Due to dual trusteeship of the investments within the SIPP, clients cannot makes any investment changes online because Talbot & Muir would have to counter-sign any changes
Permitted Investments
Commercial property
Unit trusts & OEICS
All platforms allowed subject to due diligence
External deposit accounts
Unrestricted access to all 'sippable' deposit accounts, subject to due diligence
Overseas listed stock and shares
All stockbrokers and platforms allowed, subject to due diligence
UK listed stocks and shares
All stockbrokers and platforms allowed, subject to due diligence
AIM shares
All stockbrokers and platforms allowed, subject to due diligence
Gilts/corporate bonds
All stockbrokers and platforms allowed, subject to due diligence
ETFs
All stockbrokers and platforms allowed, subject to due diligence
Investment trusts
All stockbrokers and platforms allowed, subject to due diligence
Discretionary management
Unrestricted access, subject to due diligence
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Hedge funds in standard investments are acceptable.
Traded endowment plans
Third party loans
Property purchase
Purchase fee
£800
Sale fee
£350 per property
Annual property administration fee
Single commercial property - fee part of annual fee for level 3
Additional property - £150 per property
VAT registration fee
£100
VAT return fees
£50 per quarter
Other fees
Pension fund borrowing fee £400 per property
Environmental screening report, from £225
SIPP Bank Account
SIPP bank account provider
Barclays Bank
Current interest rate
2.69%
Structure
Scheme trustees
TM Trustees
Scheme administrator
Talbot & Muir SIPP LLP
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
Nucleus Financial Platforms (Nucleus) / Curtis Banks
Year established
1993
Funds under management
£80 billon
Number of SIPPs administered
over 7,000
Defaqto rating
5 star rating
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Misc
Flexi-Access Drawdown/UFPLS offered?
Yes
Scheme Pension offered
No
Notes
In order to qualify as a Single-Asset SIPP (level 1 fees of £260 pa), in addition to the main SIPP bank account held with Barclays Bank, the SIPP may only contain one other non direct property holding. For example, this may take the form of either a single Discretionary Fund Manager portfolio, a single Platform, a single stand alone Unit Trust/OEIC/Trustee Investment Plan, or a single direct equity holding.
As soon as the SIPP owns more than one of these assets, it is then treated as a Multi-Asset SIPP (level 2 fees of £460 per annum.)
For investments in Multi-Assets including a single commercial property, this is deemed level 3 with fees of £1,035 per annum.
Please refer to schedule of fees for full details.
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.