Tax Year End Contribution Guidance – 2023
New Business Guidance Notes – Tax Year End – 2023
This document is for use by professional advisers in conjunction with products provided by Talbot & Muir.
Direct Credit Contribution Deadline
For Talbot and Muir SIPPs where contributions are to be paid by direct credit to the SIPP Bank Account:
We will require the successful submission of the client’s application online, together with receipt by Talbot and Muir of the client’s correctly completed and signed Declarations Form, no later than Monday 27th of March 2023.
For cases where contributions are to be paid by direct credit, this cannot take place until the SIPP bank account has been opened. We would expect our bank to be able to open any SIPP bank account in sufficient time for us to meet the above deadline, however we are not able to guarantee this turnaround time.
Cheque Contribution Deadline
For Talbot and Muir SIPPs where contributions are to be paid by cheque, please make the cheque payable to:
“Talbot and Muir SIPP Re: Initial Surname”
We will require the successful submission of the client’s application online, together with receipt by Talbot and Muir of the client’s correctly completed and signed Declarations Form and cheque, no later than Wednesday 29th March 2023.
Money Laundering Checks/Processing requirements
Please kindly note the following:
In addition to the anti-money laundering identity checks that you perform, we also perform online checks which we confirm to Metro Bank so that they can open the SIPP bank account. Occasionally, we are unable to complete our checks and will therefore contact you in order to obtain evidence of identity and address for the client. Please note that we cannot proceed with the client’s application until we are in receipt of the appropriate documents. It may therefore save some time if you were to forward appropriately certified evidence of identity and evidence of address, at the same time as the completed Declarations form.
If contributions are being paid by the client’s employer, we need to verify the identity of the employer as well as the client. Accordingly, as a minimum, we will require a fully completed and signed Corporate IVC. Please contact us to ensure there are no issues.
Notwithstanding the above, we will endeavour to assist you as much as is possible with any cases that fall outside of the above guidance. Please contact any member of Adviser Support on Tel: 0115 841 5000 as soon as you think you might need our help.