Stocks and shares SIPP question

Horracce

My question is about fine detail of possible SIPP transfer.

I’ve held a stocks and shares SIPP for many years with various positions held with the shares of a few different companies.

If I were to transfer this SIPP to another provider, do all the various positions get moved over with their respective gains / losses / history or just cash amount(s) ?

Thanks,

eskbanker

If the new provider supports the same investments then it should be possible to transfer them in specie, i.e. without selling to cash in order to transfer, but the underlying data about purchase history is unlikely to move across so you'd probably need to keep records independently if that was important to you, although obviously one of the benefits of using tax shelters like SIPPs is that such data doesn't need to be recorded....

Horracce

Thanks, much appreciated 

Hoenir

The book cost will the value that the investments are transfered across at. If you wish to maintain accurate records then you'll need to maintain these yourself.  Basic platforms provide no services in this regard. Corporate actions of various kinds can impact the book cost of investments such as individual shares. 

ColdIron

The security and number of shares/units are guaranteed (how could they not be) and current position can be derived

Book cost, if you are lucky or you can provide the details yourself (and the provider will accept them) and with that current gain/loss can again be more or less derived

For history: contracts notes, corporate actions, class switches, transaction details, dividend payments, equalisations, charges, previous holdings etc you can pretty much forget it and will have to rely on your own records. But for many people with a SIPP they may not matter much beyond curiosity