Permitted assets

Dentons consider the following assets to fall under this category:

Funds and equities

  • Stocks and shares listed or dealt on any HM Revenue and Customs (HMRC) recognised stock exchange, including:
    • equities
    • fixed interest secutities issued by government or other entities
    • debenture stock and other loan stock
    • permanent interest bearing shares
    • convertible securities
  • Alternative Investment Market (AIM)*
  • Equities traded on a recognised overseas stock exchange
  • Offshore funds recognised by the Financial Conduct Authority (FCA)
  • Trustee investment bonds
  • Authorised unit trusts that do not hold residential property
  • Shares in investment trusts
  • Authorised open ended investment companies (OEICs).
*Although shares on the AIM market are not treated as listed on a recognised exchange, we treat AIM listed shares as a standard asset and therefore there is no restriction on the amount that can be held. However, before we will accept AIM shares within our schemes, they must be referred to our Technical Manager for approval: please email .

Deposit accounts

  • Deposit accounts with any UK authorised financial institution.


  • UK commercial property (including land, whether development land or farmland). More complex arrangements include where there are multi-participants and/or where a mortgage is required. Our Commercial Property Questionnaire will need to be completed in all cases.


  • Depositary interests (including CREST despositary interests)
  • Insurance company managed funds and unit-linked funds
  • Real estate investment trusts (REITs)
  • Exchange traded funds (ETFs) (Legal Entity Identifiers may be required)
  • Investment grade gold bullion (subject to conditions)
  • National Savings and Investment (NS&I) products: only certain products are allowed, depending on availabilty but Premium Bonds and Direct Saver Accounts are not permitted.
The following assets will require comprehensive information in order to assess whether or not they are acceptable and if any conditions need to apply: 
  ^For these investments please complete fully our non standard investment declaration. You must also be able to evidence that you are a sophisticated investor/high net worth individual or an elective professional client as required by the relevant investment house: we will request that you complete and return the relevant form if the investment is approved.


  • Borrowing can be taken out by the pension scheme trustees to help buy a permitted asset provided it is on commercial terms and within HMRC limits.

Unacceptable assets

Dentons Pensions does not accept any of the following assets as they may give rise to tax penalties on you and/or your Dentons SIPP or SSAS, or loss of protection:
  • Taxable property - defined by HMRC as residential property and tangible movable property (including personal chattels)
  • Commodities other than gold bullion
  • Overseas commercial property and land
  • Overseas unquoted equities
  • Off-plan hotel developments
  • Bed & breakfast units
  • Loans to individuals or connected parties
  • Carbon credits
  • Cloud lending
  • Land banking
  • Storage pods
  • Individual hotel rooms
  • Individual CFD and FX accounts
  • Futures, warrants, options and binary options
  • Cyrptocurrency
  • Litigation funding.
You can discuss with our Technical department whether an asset is acceptable within a Dentons self invested pension. If you need advice on making any investment  decision please contact your own authorised and regulated Financial Adviser.

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