How do I setup a Directly Held Asset within a SIPP?
Last Modified on 29/01/2018 11:21 am GMT
This article will explain how to set up a directly held asset within a SIPP holding.
You will firstly need to locate the SIPP holding and the trustee account created, please refer to the relevant articles for more information.
Now select Contributions from the left hand menu: To move the money from the trustee account select Allocate Contribution at the bottom right of the screen. You will be asked if you are allocating to a New Holding or Existing i.e does the holding/direct held asset already exist within the SIPP on CCD. In this example we have a new SIPP record so no holdings or directly held assets have been setup. Once you select New Holding the following message will appear:
Select Directly Held you will be taken through to the screen to record the contribution into the directly held asset:
Record the amount to be invested in the directly held asset. Remember to update the trustee account balance if relevant by selecting Auto fill at the bottom right. Now select Proceed to select asset from the bottom left.
You will need to select if it is New business or Info only.
You will be taken through to the Asset screen to select the asset from the Financial Express database. Select the relevant asset and record the number of units in the normal way: Select Contributions from the menu on the left hand to be returned to the trustee account screen. The money moved into the directly held asset will display as a decrement: