SIPP and SSAS pension schemes both offer substantial tax advantages among other benefits making them an extremely popular choice for clients looking to plan for their retirement.
Farleys’ commercial property team has extensive experience of liaising with pension providers and advising clients on the most beneficial scheme which protects their interests. Our experts can advise you on:
- Buying or selling commercial property into a pension fund
- Leases, assignments, and sub-letting
- Securing mortgages against pension properties
- Transferring properties between pension funds
- Advising on and documenting trustee’s obligations
Legal Advice on Self-Invested Personal Pensions (SIPPs)
If you are looking to invest in a SIPP through the purchase of commercial property, our specialists can help. We can provide clear, down to earth advice on the best way to proceed to protect your investment. We will also identify any legal issues that could arise at the time as well as those that could arise further down the line and ensure all legal documentation is in place to provide you with security and peace of mind.
SIPPs – Points to Consider
- A SIPP is a personal pension plan,
- A SIPP allows you to invest in commercial property and land, UK and overseas stocks and shares, unlisted shares, collective investments (including open-ended investment companies and unit trusts), and investment trusts on any stock exchange,
- A SIPP member’s employer can contribute to the member’s pension plan and is permitted to make payroll deductions on their behalf,
- There is no inheritance tax liability on a SIPP so any property held in your SIPP should be exempt from inheritance tax in the event of your death
- A tenant for the commercial property must be in place on or before the completion of the sale and a commercial lease will need to be in place too.
Legal Advice on Small Self Administered Schemes (SSAS)
Small Self-Administered Schemes, commonly referred to as SSAS, are pension schemes designed to be used by business owners for their employees and themselves. Our solicitors will get to know your goals and advise on the best way to proceed to ensure maximum benefit from your commercial property and pension scheme.
SSAS – Points to Consider
- A SSAS is an occupational pension scheme,
- A SSAS is established under trust,
- Assets do not belong to any particular member though members have a right to benefit from the scheme,
- A SSAS can be used to loan up to 50% net assets back to the principal or other participating employer,
- Buy commercial property from the establishing or participating employer or from a third party and lease it back at a commercial rent
Farleys’ commercial property solicitors can assist with the sale, purchase and/or lease of a commercial property through a SIPP or SSAS. We can work alongside your financial advisors or recommend a trusted financial advisor to assist you.