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The beneficiary should have completed their own nomination form, so that the scheme administrator can take account of it when using its discretionary powers to pay benefits as follows.

With the tax year end just over two weeks away, clients looking to make contributions to their SIPP for the current tax year (2018/19), must have established a Dentons SIPP and provided a valid means of payment to Dentons main office in Godalming, by 5 April.

Advisers must plan well in advance where their clients intend to establish a new Small Self-Administered Scheme (SSAS).

A key aspect of the role of a financial adviser is to research the marketplace and recommend and review the most appropriate products and services available for their clients – this is no easy task in an ever changing environment.

A paper from the Centre for Policy Studies is calling for pension tax relief to be overhauled. While we agree 'more needs to be done' our views differ from the think tank. We will wait to see what the Autumn budget may bring.

Pensions have been touted as a potential victim for cuts, with justification mooted for the increasing costs of the current tax relievable contributions, and/or how to better distribute those benefits amongst everyone rather than the wealthy enjoying the majority.

In our May technical bulletin, we outlined that Dentons, along with nearly all other SIPP operators, had ceased to accept contributions in the form of in specie assets in 2016. This followed notice of HMRC refusing tax relief on these contributions based on their interpretation of legislation, which they maintain, requires contributions to be made as a monetary sum.

Dentons are pleased to announce that Martin Tilley will be speaking at the Professional Adviser 360 North event in Warrington on Wednesday 17 October.

Amongst the more unusual asset classes you may find within registered pension schemes, is intellectual property. Whilst offering the potential for regular income and capital growth, there are many hazards, which need to be acknowledged and navigated.

Dentons is shortlisted for a number of awards which recognise service and for providing exceptional SIPP and SSAS administration.

One of the most common queries from advisers recently has been the use of carry forward of unused pension contribution allowances.

As a SIPP provider, we are often asked to comment on the acceptability of an asset. Despite the uncertainty surrounding SIPP due diligence, one point is not in dispute and that is the willingness to avoid taxable property.

Martin Tilley, Director of Technical Services, looks at where proposals to add commercial land to a SIPP are more likely to be accepted.

The Lifetime Allowance (LTA) is the limit on the value of pension funds that an individual can crystallise in order to receive benefits, whether as lump sums and/or retirement income, without triggering additional tax charges.

Whilst we welcome the pension freedoms that were introduced in 2015, which granted greater access to pension benefits, they do bring with them complications that you need to understand before taking any income from pension savings.

The pension freedoms have radically changed the taxation of death benefits payable from money purchase pension schemes and the range of beneficiaries that can receive them.

Dentons' hosts its 6th Annual Event at the IOD with guest speaker Michelle Cracknell and Dentons' David Fox and Martin Tilley.

The Money Purchase Annual Allowance is the total amount of contributions that can be paid to an individual's money purchase arrangements in a tax year. A number of actions will trigger this allowance.

We cover a number of key legislation matters that affect SIPP and/or SSAS.

Individuals whose adjusted annual income exceeds £150,000 may have their annual allowance reduced.

With effect from Wednesday 31 January 2018, Dentons has announced the acquisition of Sippchoice, the London based bespoke SIPP provider for an undisclosed sum.

Small Self-Administered Schemes (SSASs) trading or wishing to trade in equities and bonds, ETFs, derivatives and certain debt related instruments (reportable financial instruments) will now have to obtain a Legal Entity Identifier (LEI) before trades can take place.

Our latest Newsletter covers a range of interesting articles and pension news.

Many people are being caught by reductions in both the Lifetime Allowance (LTA) and the Annual Allowance.

The Government announced recently that it intends to bring forward the increase in the State pension age from 67 to 68 between 2037 and 2039.

Within the Dentons Group of Companies, DPM Legal is a law firm providing expert legal advice on a range of residential and commercial property transactions.

Dentons continues to perform well in the second independent report from FinalytiQ on the financial strength and stability of 'bespoke' SIPP Providers.

Dentons has always aimed to offer clients the widest choice of assets within their self invested pension however we have now made the decision to no longer accept new requests for direct individual accounts or stockbroker accounts to trade in foreign exchange (FX) or contracts for difference (CFDs) within our Dentons SIPP or SSAS portfolios.

As self invested specialists we are no strangers to the more adventurous investment proposals as indeed this is precisely what both SIPP and SSAS vehicles were designed for.

Defining what tangible movable property is might be more complex than you think and if owned by the pension scheme would lead to tax charges. We explore what constitutes tangible moveable property and assets that potentially fall into this category; the most notable being any interest in residential property.

With the number of commercial properties being purchased through SIPPs continuing at a high level, it is useful to set out the treatment of Transfers of Going Concern (TOGC) which might impact some potential property investment cases going forward.