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General
Our SIPP and SSAS clients have a wide range of investment options. However, as a responsible SIPP and SSAS operator, we have placed restrictions on what your pension can and cannot invest in.
Our Permitted and Non-Permitted Investments Lists below set out generally what is allowable. The lists are principally determined by:
- Taxable property these are a category of investment that would incur high tax penalties if held in your pension, and
- Non-Standard Investments these are investments, which do not fall within the Financial Conduct Authority’s definition of “standard investments”, as they may be difficult to sell, be higher risk and are often inappropriate for SIPPs and SSASs.
The term non-standard investment does not reflect the potential investment risk or reward, both a non-standard investment and a standard investment (on our permitted investment list) may be a high risk investment.
One of the criteria for an investment to be considered a standard investment is whether it can be realised (sold) within 30 days when required. If an asset cannot be sold within 30 days it is classified as a non-standard investment.
If you are considering an investment which is not covered below then please send us full details so that we can determine whether it is viable. Please note that there will be a charge for us completing any due diligence. Our fee schedule is available from our website.
We reserve the right to sell any investment held in a SIPP or SSAS at our sole discretion if we believe that continuing to hold it could jeopardise the registration of the pension or lead to a tax charge.
Please note that DP Pensions Ltd and D A Phillips & Co Ltd (the SIPP Trustee) do not give financial advice. You make all investment decisions with the help of your financial adviser (if you have one). We do not take any responsibility for the consequences of your investment decisions.
You should regularly review your investments to make sure that they meet your investment objectives, your retirement aims and your attitude to risk.
PERMITTED INVESTMENTS
Investments | Notes |
| Deposit Accounts • Cash held in bank and building society deposit accounts • Fixed term deposits | This could be in sterling, US dollars or Euro’s with our nominated SIPP bank account or an EEA authorised deposit taker Only if funds can be accessed prior to maturity |
| Stocks and Shares • Shares listed on the London Stock exchange (LSE) or Alternative Investment Market (AIM) or any other venue/operator that have functions similar to an exchange or an multilateral trading facility (MTF) – that are authorised by a regulator or a government agency either in the EEA or in any third country • Fixed interest securities listed as above • Loan notes listed as above • UK government treasury bills and other government fixed interest securities • Permanent interest bearing shares (PIBs) listed as above | Source: FCA Handbook IPRU-INV 5.9 This could be Gilts, Stocks or Bonds |
| Collective investment schemes • OEICS, Unit Trusts and other collective investment schemes • Investment Trusts • Real estate investment trusts (REITs) | Must be authorised or recognised by the FCA See “Stocks and Shares” section of where the investment must be listed |
| Commodities • Exchange Traded Commodities • Physical Gold Bullion | See “Stocks and Shares” section for where the investment must be listed Providers must meet our due diligence requirements. Please contact us for confirmation of who an account can be set up with |
| National Savings and Investments (NS&I) • Income Bonds | |
| Direct Property • UK commercial Property and Land | |
| Insurance company funds including Trustee Investment Plans | |
| Structured Products • Capital protected structured product | Could be a listed company share, investment trust, bond, loan note, warrant or other derivative but it must be listed on an HMRC recognised stock exchange |
We may however consider from time to time that some of these regulated venues are not on markets we would wish to hold in our SIPP. The current list can be found below.
NON-PERMITTED INVESTMENTS
Below is a list of investments not allowed in your SIPP. This list is not exhaustive, please contact us if you are unsure as to whether an investment meets the Permitted Investments criteria shown above.
Investments | Notes |
| Taxable Property • Residential property and any associated land • Tangible moveable property • Loans made by your SIPP to you, your business or anyone connected to you • Residential ground rents | Including Holiday properties, Art, Antiques, Jewellery etc |
| Property • Overseas commercial property or land • Hotel Rooms • Storage Pods | |
| Stocks and Shares • Unquoted shares – UK or overseas • Unquoted loan notes and bonds • Mini bonds • Forex trading (currency trading) | |
| Loans • Loans made by your SIPP to any party • Peer to peer lending and crowdfunding | |
| Unregulated Collective Investment Schemes (UCIS) | |
| Closed-ended investments | which are not realisable within 30 days |
| Structured Capital at Risk Products | |
| Crypto currencies | such as Bitcoin and Ethereum |
| Intellectual property | such as patents and trademarks |
| Futures and options | |
| Land banking | |
| Carbon credits | |
| Second hand traded endowment policies | |
| Burial plots | |
| Contracts for difference and spread betting | |
| Premium Bonds | |
| Solar panels and wind turbines | |
| Life settlement funds | |
| Other special purpose vehicles and pooled investment structures meeting the Financial Conduct Authority definition of non-mainstream pooled investments | |
| Any other asset which cannot be accurately and fairly valued on an ongoing basis and cannot be readily realised within 30 days, whenever required. |
Stock Markets or Exchanges which we will not accept into our SIPP
This list is our current view of markets that we do not wish to hold in our SIPP. This list will be reviewed from time to time and we reserve the right to make any decision in relation to markets, trading venues or multi-lateral trading facilities as we deem appropriate. Please note that this list is not exhaustive.
- NEX
- The International Stock Exchange (formerly known as the Channel Islands Stock Exchange)
- The Cayman Islands Stock Exchange
- GXG Official List
- GXG Main Quote
- The Rio De Janeiro Stock Exchange
- The Sao Paulo Stock Exchange
- Growth and Enterprise Market of the Irish Stock Exchange
- Enterprise Securities Market of the Irish Stock Exchange
- The Bermuda Stock Exchange