N
NTB
Guest
Dear All
I am a co-director of a small limited company . About 4 years ago I purchased a small residential investment property using pension contributions through a newly set up Self Administered Pension Scheme through one of the larger pension & investment consultant firms. The intention was to add 1 or 2 more properties over time but that plan has changed and I will only stick with what I have. The problem is that the pension manager is seeking to charge admin fees of 2k per annum +vat and needs me to get an updated valuation on the property (at more cost) on which value has fallen by c. 40% and there is significant difficulty in getting tenants. The latter 2 points are issues for me to deal with but I would be very grateful for any advice on how to minimise admin costs - or if there is a more suitable scheme for me.
Thankyou
I am a co-director of a small limited company . About 4 years ago I purchased a small residential investment property using pension contributions through a newly set up Self Administered Pension Scheme through one of the larger pension & investment consultant firms. The intention was to add 1 or 2 more properties over time but that plan has changed and I will only stick with what I have. The problem is that the pension manager is seeking to charge admin fees of 2k per annum +vat and needs me to get an updated valuation on the property (at more cost) on which value has fallen by c. 40% and there is significant difficulty in getting tenants. The latter 2 points are issues for me to deal with but I would be very grateful for any advice on how to minimise admin costs - or if there is a more suitable scheme for me.
Thankyou