Davis Blank Furniss - the Manchester & Glossop based law firm - has this week launched a fixed fee service to clients who want to buy a commercial property via a SIPP (Self Invested Personal Pension Scheme) or SSAS (Small Self Administered Scheme). The launch follows a 35% rise in enquiries for this type of transaction over the past year.
The popularity in tax-efficient SIPP/ SSAS purchases has been growing as they allow business owners to release equity from their current business premises, or facilitate the purchase of new commercial premises. The kinds of properties that can be purchased in this way include: industrial units; offices; retail premises; hotels and pubs.
The fixed fee services are as follows:
~ Purchasing a property for a price of under £1m: £2,000 plus VAT & disbursements.
~ Preparing a lease for the occupying company: £1,000 plus VAT.
~ Dealing with funder & pension provider: £1,000 plus VAT
Richard Hamilton, head of Davis Blank Furniss’s Property team, commented: “We’re excited about the launch and it has really come about as a direct result of client demand. Commercial property is still seen as a strong long-term investment so being able to invest in a tax-efficient way makes it even more attractive.
Richard added: We want to make the process as simple as possible and the new fixed fee service is a simple way do doing that.”