WOLANSKI & Co. TRUSTEES LIMITED

SIPP FAQs

How do I complete an investment application form?
All investments are held in the name of Wolanski & Co. Trustees Limited, and so we would be the sole applicant for all investments. However, we always designate the investments with the name of your Plan, i.e. Wolanski & Co. Personal Pension Plan - J Smith, or WACPPP - J Smith, for short. We ask that you countersign all investment applications, not as an applicant, but to confirm your agreement of the terms of the investment to us.

If I am taking income withdrawal under another personal pension arrangement, can I transfer these funds to a Wolanski & Co. SIPP?
Yes, provided the rules of your existing personal pension scheme allow it. Upon receipt of the transfer, we will calculate the new amount of income that you can receive.

Does my money earn interest when held as cash within the SIPP?
Yes, and the rates offered by Cater Allen Bank are very competitive.

Please click here for a copy of the latest rates.

How can I invest the funds within my Plan?
The plan can invest in all of the areas permitted by HM Revenue & Customs – this is not always the case with other SIPP Trustees and Administrators, many of whom will not allow certain classes of investment, for example, overseas commercial property.

Please click here for a comprehensive list of the permitted areas.

What rules and regulations govern our SIPP?
Our SIPP is governed by its Trust Deed and Rules, which is amended from time to time.

Please click here for a copy of the current Trust Deed and Rules.

What are the fees involved in establishing a SIPP with Wolanski & Co. Trustees Limited?
Our menu of fees is clear and transparent and aims to relate your total charges directly to the amount of work we carry out on your behalf, and the number of the Investments involved in your Plan. Our fees are available in the Services for Professional Advisers section of the website.

Can my SIPP invest in residential property?
Your SIPP cannot currently be used to purchase residential property, except where it is an integral part of commercial property as in:

a caretaker’s flat; or

a residential part of a property occupied by an employee as part of his or her employment; or

a flat held on a long-term leasehold by an unconnected party.

Commercial property with a residential aspect, such as hotels, guest houses and nursing homes, is not prohibited. However, neither you, nor any connected person, may use the facilities other than at a commercial rate. Residential property which is to be converted to commercial use is prohibited, even where planning permission for such a conversion has been obtained.

Can my SIPP invest in overseas commercial property?
It is possible to purchase commercial property overseas. All of the considerations for UK property apply. In addition special consideration needs to be given to the documentation and legal aspects of the purchase and therefore each transaction needs to be assessed on an individual basis.

In addition to the solicitor appointed to deal with the purchase, we will require a solicitor in the UK who specialises in property law for that country to be appointed to advise us on the legal aspects of the purchase.