Commercial property transfer into SIPP

Gasworks

Hello, looking for advice on transferring commercial properties into a new SIPP, I am receiving conflicting info on whether it can be done or not, I fully own (no mortgage) three freehold CPs, I rent one out, operate my busines from another and am renovating the third which has a residental flat above (one one deed).
I am looking at transferring an existing final salary pension to a SIPP and add some/all of the CPs, the benefits as I understand being no income tax on rental income, no capital gains tax and no inheritance tax payable.
One IFA says I can transfer the properties and have rent paid into SIPP with the exception of the residencial element unless it forms part of the CP i.e. managers accomodation if it was a micro pub. A second IFA is of the opinion it can't be done for any of the CPs as I own them as an individual and they are not a company asset as I am a sole trader.
Any help or advice would be appreciated as i can't find anything decisive on here or Google.

xylophone

https://forums.moneysavingexpert.com/discussion/5797878/commercial-property-in-sipp

https://www.onlinemoneyadvisor.co.uk/pensions/sipps/sipps-and-commercial-properties/

https://stevejbicknell.com/2017/02/22/why-would-you-put-commercial-property-into-a-pension-scheme/

https://www.!!!!!!.uk/sipp-zone/help-choosing-your-sipp/commercial-property/
may be worth a look.

Dox

Gasworks said:

 A second IFA is of the opinion it can't be done for any of the CPs as I own them as an individual and they are not a company asset as I am a sole trader.
Any help or advice would be appreciated as i can't find anything decisive on here or Google.

You might suggest the second IFA reads this: https://www.kingsleynapley.co.uk/insights/blogs/real-estate-law-blog/selling-your-premises-to-your-pension-fund-having-your-cake-and-eating-it

Gasworks

Thank you for your replies, I had previously seen most of the info in your links which does indeed suggest that the 2nd IFA was incorrect, I wasn't sure if there had been some recent changes to in-specie transfers into SIPPs brought about by the Inland Revenue in a court case. ??
I don't want to sell my CPs to the SIPP but do a 'free' transfer as if an in-specie deposit which as I understand might have to be done in portions to avoid the annual limit

xylophone

 I wasn't sure if there had been some recent changes to in-specie transfers into SIPPs brought about by the Inland Revenue in a court case. ??

https://www.retirement-planner.co.uk/237198/pension-providers-and-clients-left-in-limbo-after-in-specie-hearing-vacated

Gasworks

See what I mean, not as clear cut as it could be!

normpearce

We did a similar thing with our property that went into the SIPP. We are with a firm called InvestAcc which I have seen mentioned on this board a few times. I would suggest getting in touch with them as they may be able to assist.

midlandsimon

The link refers to an in-specie contribution of the property. The OP was looking to purchase via a cash purchase funded by a transfer from their occupational plan, this is still perfectly fine! The SIPP provider can exclude the residential part and purchase only the commercial element on a long leasehold basis (equivalent free hold 999 years etc). Funnily enough, our group SIPP is with InvestAcc Pensions as well. Would recommended them for any property work.