Delisted Shares in a SIPP

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McStay_8
McStay_8 Posts: 1 Newbie
in Pensions, annuities & retirement planning
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

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  • midlandsimon
    midlandsimon Posts: 82 Forumite
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    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?
  • Malthusian
    Malthusian Posts: 10,943 Forumite
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    McStay_8 wrote: »
    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.
    2) Can I take these out of the SIPP and hold the certificates?
    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.

    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?
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