Can I invest in gold using my SIPP / SSAS?
Yes, physical gold has been eligible for inclusion in Self-Invested Personal Pensions (SIPP) and Small Self-Administered Schemes (SSAS) since 2014. Depending on your circumstances, the UK Government will pay up to 45% of the cost of your gold. In addition, any appreciation will be Capital Gains Tax (CGT) exempt subject to rules and guidelines by the HMRC.
Which gold products can I buy within my SIPP / SSAS?
The HMRC requirement is that only investment grade gold bars with a purity of no less than 99.5% are eligible to be held within your SIPP/SSAS. When you buy Gold from Sharps Pixley, the bars have a purity of 99.99% and are supplied by a London Bullion Market Association (LBMA) accredited 'London Good Delivery' refinery.
Can I buy silver, platinum, palladium or gold coins for my SIPP / SSAS?
No, it is not possible to hold silver, platinum, palladium or gold coins within your pension.
Can I take delivery or collect the gold bullion in my SIPP / SSAS?
It is the HMRC requirement that the bullion held in your SIPP/SSAS must remain within the vaulting arrangement.
What are the costs ?
You will be purchasing physical gold at the interbank gold price plus a modest premium ; the premium varies depending upon the product selected but starts from about 1.5% over the interbank gold price offer for say a kilobar. This premium reflects amongst other things a higher purity bar than the interbank price (London market is 99.5% purity whereas our bars are 99.99% purity) plus the cost of manufacturing the smaller bars. Sharps Pixley charge a custody storage fee of 0.3% p.a based on the market value of the gold, which includes full insurance.
How does Storage work ?
All gold held within your SIPP / SSAS will be held by Sharps Pixley in their vault as per the requirement of HMRC. This is 100% allocated and segregated storage in a highly secure vault insured through a leading Lloyd’s of London broker.
How do I pay the Storage Fees ?
The initial term, two years, must be paid in advance at time of purchase. Sharps Pixley will add a 0.6% premium to the purchase price to reflect this fee. Any fees thereafter will accrue and be settled when the gold is subsequently sold. You will receive the sale proceeds less or plus any fees that have either accrued or were already paid in advance, depending on the investment term.
Is my pension gold holding audited ?
Vaulted Gold will be independently audited bi-annually by Alex Stewart International, a member of the London Bullion Market Association (LBMA).
So, how do I get started ?
We invite you to come and visit us at 54 St. James's street to discuss the process in person or alternatively you can ask your SIPP provider / SASS administrator to contact us or feel free to enquire using the below details.
Please contact us on +44 (0)207 871 0532 or firstname.lastname@example.org or complete this form to register your interest