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Delisted Shares in a SIPP
McStay_8
Posts: 1 Newbie
Hi,
I have share locked up in a now delisted company within a Barclays SIPP. They are saying it is no longer eligible so what are my options?
1) Transfer to another provider
2) Can I take these out of the SIPP and hold the certificates?
Thanks in advance
I have share locked up in a now delisted company within a Barclays SIPP. They are saying it is no longer eligible so what are my options?
1) Transfer to another provider
2) Can I take these out of the SIPP and hold the certificates?
Thanks in advance
0
Comments
-
You will struggle to find any SIPP provider who will accept Delisted shares. Would have a negative effect on their capital adequacy adding a new 'non standard asset' and delisted shares are just a complete nightmare to transfer/administer going forward.
My advice would to be ask Barclays if they do a partial transfer out of all your other liquid assets to a new provider and just cut your losses with the delisted stock.
Is the SIPP in drawdown?0 -
1) Transfer to another provider
As Midlandsimon says, you may struggle to find one. If it is not in drawdown you can do a partial transfer of the assets which are liquid. If it is in drawdown you may be stuck.
They belong to your SIPP and not you so you can't simply "take them out". If you certificated them they would still belong to the SIPP and the same issues would apply with transferring.2) Can I take these out of the SIPP and hold the certificates?
It is possible to pay shares into a SIPP as an "in-specie contribution" but I don't know if it's possible to do the reverse, i.e. have shares transferred to you in-specie as tax-free cash or income. (Trying to Google it only gave me results about in-specie contributions.) Even if it is legally possible, it is probably practically impossible if the shares are impossible to value.
Which company is it? Is there any market at all in the shares or are they virtually worthless? Would the company itself or its directors / major shareholders buy the shares off the SIPP, even for a nominal £1?0
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