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  • Commercial Property

    Commercial property friendly SIPP?

    Had been planning to sign up to this great resource for some time, but this mornings events have made it a matter of urgency.

    I have a SIPP with ii. Just called them about purchasing a commercial property within it......and they don't offer that! Arrrgh!

    So i need an additional SIPP opening that can facilitate the purchase of commercial property within it.

    Please advise on recommendations for an easy to deal with provider, who have 'relaxed' owner occupier agreements and the lowest fees. If such a company exist!

    Looking at the time it is going to take to setup, i am now beginning to reconsider the new ltd co route.

    Loan from my business to either SIPP or new ltd co. Contra entry rent to reduce loan balance as business profits dictate.

    The building is not in fantastic condition, i am not sure what EPC rating would be achieved, which seems to be important to SIPP trustees.

    I had this all planned out (not very well, obviously) over the weekend, now i am back to square one!

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    AJ Bell, is the one I use, I have now two commercial property owned via my SIPP, and looking for the third ones.

    # Owner-occupier: is fine, but the "rent" would need to have a survey (from a chartered surveyor) that establish that that is a market rate rent.

    # loan from your biz to SIPP: SIPP can get mortgage or loan, only from commercial operator (Bank, Building society or professional lender in general).

    SIPP have rules, the above is my experience. AJ Bell does not allow you to co-own a commercial property (co-owned by SIPP and your LTD for instance), while other SIPP provider seem to do for instance.

    I hope it helps

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    Could SSAS be an option for you instead of SIPP? It might give you more flexibility, Would take some research though, cannot really tell you more, as just starting to research myself.

    This might be a good starting point

    https://www.wealthbuilders.co.uk/

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