Whether markets are booming or in recession, SSASs and SIPPs can play an integral role in the strategy for small- and medium-sized enterprises and high net worth individuals.

How can Vialex help?

Vialex advises on all aspects concerning SSASs and SIPPs. 

• We advise a number of scheme providers in relation to their standard documentation. 

• Our pensions practice also advises members, scheme administrators and trustees on
  • interpreting the legislation and case law;
  • issues arising from the divorce or bankruptcy of scheme members, and the impact this has on their pension entitlements; 
  • the resolution of disputes or complaints involving the Pensions Ombudsman or Financial Ombudsman Service. 

• Together with our commercial property and corporate colleagues we also regularly advise schemes on their proposed investments.

Standard Documentation

• We can provide trust deeds and rules for both SSASs and SIPPs that meet the requirements of pensions, trust, and tax law. 

• We can also review schemes’ existing documentation and recommend if any amendments are needed to bring this up to date and draft the relevant deeds or resolutions to effect these changes.

• Where existing trustees of a SSAS resign or are removed from office and/or new trustees are appointed, we can ensure that this is properly documented. 

• Similarly, we can provide deeds in order to document changes in the principal employer of a SSAS or where another company is a participating employer in the scheme.

Commercial property

• Whether schemes are acquiring the premises from which the members’ business currently operates or looking for new premises as part of a business expansion programme, we can advise in relation to investments in commercial property and any associated lending work that may be required to finance this.

• We can identify if there are any issues in respect of the property that could fall foul of pensions legislation and recommend steps to remedy this and allow the investment to proceed. 

• We can also ensure that commercial leases are put in place that meet the pensions law requirements, especially where the tenant is a connected party.

• If a commercial property requires to be sold, we can assist with the process including the discharge of any standard securities which may have been granted over it.

Unquoted shares and loans

• Our pensions and corporate lawyers can advise SSASs and SIPPs where schemes are considering acquiring unquoted shares in a business. 

• We can advise whether there are any issues arising from this, including if there are likely to be potential problems arising from the business holding “taxable property” or if the scheme could be deemed to be “trading”. 

• Where SSASs are considering lending monies to the members’ business we can ensure that
  this is on standard commercial terms, meets the pensions law requirements and that the loans are properly documented. 

• We can provide similar advice and documentation where SIPPs propose lending monies to an unconnected third party. 

• We can also advise in relation to any security that the borrower may be required to put in place in respect of the loan.

For further information please contact Steven Dunn or Scott Moncur (details below).