Types of allowable property
Fee free assessment
We are happy to undertake a fee free initial assessment of a commercial property, prior to establishment of a SIPP with us. All you need to do is send us details of the property in question via email, or give us a call.
We are able to assess properties using an online sales link or marketing/auction particulars, or alternatively just an overview of the property sent to us via email, or over the phone. The more information that you can provide, the better.
Any assessment provided will be subject to our usual due diligence.
For existing Curtis Banks clients, please contact us on 0370 414 7000.
For new Curtis Banks clients, please contact our Sales Executive, Nick Giles on 07909 115614.
Allowable property types
If the property is commercial and based in the UK, we will happily assess it, whether it is freehold, leasehold or commonhold. We will usually assess the following categories of properties.
Non allowable property investments
Taxable property
If a property is used for, or is suitable for use as a dwelling, or is land that forms part of the garden or grounds of such a property, it may be classed as taxable property.
Curtis Banks is unable to purchase taxable property into a SIPP. A full definition of taxable property can be found in the Finance Act 2006, schedule 29A, Part 2,section 7(1) (a).
If Curtis Banks were to purchase taxable property falling under the above definition, HMRC would impose severe tax implications on both Curtis Banks and the pension. We are therefore unable to, in most situations; purchase an asset if it does include a residential element.
Examples of taxable property are:
- Holiday Lets
- Hotel Rooms with catering facilities in the individual letting rooms
- Aparthotels
There are certain circumstances where the pension can acquire properties with a residential element, if the residential element is to be used in conjunction with the commercial property. There are additional HMRC regulations that would apply here - please contact us to find out more.
There are other types of property that we are unable to acquire into a SIPP. Additional information about allowability and taxable property can be found in our Property Guide.
Overseas commercial property
Unfortunately, we're unable to acquire commercial property outside of the UK.