Reallocating Monies from an Asset

Any money allocated to a bank account, directly held asset or contract based asset that is to be reallocated to another asset, needs to go back through the Trustee Bank Account to maintain the audit trail. To reallocate funds from a bank account or directly held asset, access the asset via the SIPP details assets tabs as shown below. 

Navigate to the details tab and adjust the Current value to show less the amount being reallocated. 

Switch to the Full SIPP Trustee bank account and add the funds to be reallocated as a transfer into the TBA. 

The funds are now available in the TBA and can be reallocated to either an existing or new asset of the SIPP. 

The process for reallocating funds from a directly held asset is the same although the screens seen are slightly different.

Add the funds back into the TBA in the same way as described above for the Directly Held assets ensure the 2 boxes are checked once the funds have been added.

For a contract based asset select the contract from the details screens on the SIPP.