EPC’s not required on in specie property transfers

Following the introduction of Energy Performance Certificates ("EPC") for commercial property there has been uncertainty as to whether,on an in-specie transfer of property between two SIPP Trustees ,the outgoing SIPP Trustee must provide an EPC to the new trustee.

Following guidance and comment from the Department for Communities and Local Government in relation to potential exemptions and confirmation from the Landmark EPC Helpdesk,the position is that an EPC is not required for an in-specie transfer between SIPP Trustees provided that the member remains the same and there is no payment or other consideration for the transfer of the property other than an undertaking by the incoming SIPP Trustee to pay pension benefits.