Iii

xylophone

confirming that they’ll be converting Newton Asian Income into the cleaner W units from 1st April

You'll believe it when you see it?:)

juliamarsh

planteria wrote: »

so how do you guys best manage this, just ensure that there is £144+ in your Trading Accounts on the anniversary of your SIPP being opened?

That's what I do. They should send you a secure message beforehand notifying you of the date that they intend to debit it. I still say 'should' or 'in theory' because this is II we are talking about after all, and although they did notify me this year, one year they just took the money out of my SIPP contribution with no advance notification whatsoever and without giving me the opportunity to fund my trading account to cover the fee.

juliamarsh

Nocto wrote: »

Just received a message from II confirming that they’ll be converting Newton Asian Income into the cleaner W units from 1st April (says it all really!)…

I had the same message about Newton Asian Income, Newton UK Income and Marlborough Special Situations today. I got one about Newton Global Income some time ago saying they would be starting the conversion from 18th March. No sign of it happening as yet, trading box not blanked out etc.

masonic

planteria wrote: »

so how do you guys best manage this, just ensure that there is £144+ in your Trading Accounts on the anniversary of your SIPP being opened?

It would be best to pay the fee out of cash in your SIPP account. That way you are effectively paying part of the fee using tax relief.

planteria

of course, i like that masonic:cool:

grey_gym_sock

Nocto wrote: »

Just received a message from II confirming that they’ll be converting Newton Asian Income into the cleaner W units from 1st April (says it all really!)…

perhaps they'll do the conversion correctly in the morning, as an april fool; and then put it wrong again after lunch

planteria

had a further response...

"Our Annual SIPP fee of £120 + VAT is due to be collected on Tuesday 29th March 2016. We will be debiting the amount from your Trading account on this date. If your Trading account is fully invested, or there are insufficient funds available, then we will attempt to collect the fee from your SIPP account instead. If there are insufficient funds in both of these accounts we will attempt to collect from your registered debit card.

If you need to fund your account to cover the fee, there are a number of ways to do this:
€Use the Fund/Withdraw tab on your online platform to credit your Trading Account with the administration fee

€Arrange for a bank transfer to be made to your unique SIPP bank account. Upon receipt of a completed Contribution Form, we will then use this balance to deduct your administration fee. Please note that this will be counted as a contribution to your SIPP and normal taxation and limit rules will apply.

€Arrange the sale of securities on your account to raise an amount sufficient to cover the administration fees. This will be subject to standard dealing charges.

If you have any queries, please do not hesitate to contact us on 0845 200 3637.

Yours sincerely

Julie Baxter
Head of Customer Contact"

i want to follow masonic's advice, and pay the fee via my SIPP. i've asked for the correct details to send the payment to, as they have caused me problems by providing incorrect info in the past.

is there an online Contribution Form to complete?

Ian011

I don't think they should be using a premium rate 0845 number for customer contact.

FCA regulations effective 26 October 2015 require an 01, 02, 03 or 080 number for customer contact.

cloud_dog

Ian011 wrote: »

I don't think they should be using a premium rate 0845 number for customer contact.

Why not use saynoto0870 to find their geographical number?

LHW99

There is a contributions form on the site and it has an 0345 number on it.

I couldn't get the "fund" page to offer me the option to send funds directly to my SIPP, only into the trading account.
Therefore sent a cheque!