Good morning , could someone please tell me if shares are bought for me, from money in a SIPP, should the trustees of signed the share form. I have removed my personal details, gut were it states the detail's of trustees is blank.

Thank you.

Hello filrobbo.

I've moved your thread from the media subforums to the main pensions forum, where it should get more views.

HB

I don't know if it's me or not, I can't read that because the print is too small for my tired eyes.

Are the shares showing in your SIPP statement?

HB

Ok thank you honey bee I do have the share certificate, but I was just asking should the share form be signed by the trustees.

who are the trustees if not yourself? It looks as though you bought the shares and they are not held in trust by a nominee, is this correct?

What does your SIPP statement say about the shares please?

HB

The sip is run by Guardian Pension Consultants, I have a copy of the share certificate which states I have 61,443 shares @ £1.00 in a company called KJK Investments but is in liquidation.

Forgot to add, I have my statement to day from the Royal bank of Scotland that states I have 6p in the sip accout after GPC have taken some of there fee , which is £510 they have withdrawn £294.90, and left 6p.

Not by any chance the same KJK Investments mentioned in this press release: https://www.gov.uk/government/news/companies-shut-down-for-operating-misleading-pension-liberation-scheme

If so, I think you may want to take legal advice from a qualified and experienced solicitor with a view to taking action against the trustees.

Yes that's the one, mr tax man sent me a bill for £18.000, its still been investigated, if we have to pay this tax or not.

filrobbo, did someone advise you to buy these shares? I mean a financial adviser or someone like that, in case you have recourse against them.

If you've had a tax bill, did you take cash out of the SIPP?

HB

No I was told about the loan by a fried of a friend, and thought at the time it seed like a good idea.

Hi filrobbo

Sorry but I have had to unapprove you attachment in post#1 could you please ensure any personal identifiable data is removed before re posting

Post Re Approved soz filrobbo was reading two different threads at same time

Sheesh! What a complicated web of deceit.

I assume you realise that you are unlikely to get any of your investment back however, it is being said that the tax demands from HMRC are being resisted until the situation becomes clearer.

You have been swindled and your 'friend of a friend' needs a good talking to.

What role did Guardian Pension Consultants Ltd have in this role.

From research, the trustees cannot escape some of the responsibility but for things like this, it is unlikely they could be held fully responsible.

http://www.wealthtime.co.uk/module/content/42

SF, I think if a regulated financial adviser made a written recommendation to buy, they could be held responsible, but maybe there wasn't one from what filrobbo says.

filrobbo, did this money come out of another pension fund?

HB

SF, I think if a regulated financial adviser made a written recommendation to buy, they could be held responsible, but maybe there wasn't one from what filrobbo says.

 

20/20 hindsight!!

 

filrobbo, did this money come out of another pension fund?

 

I suspect it was AND he was under 55 at the time

 

HB

These 'schemes' are still ongoing, unregulated firms cashing in on the unwary. The only company that is registered is Guardian pension Consultants.

Yes honeybee it was transferred from a council pension fund.

I had to put my pension into a SIPP and then invest in KJK Investments, so I could get a loan from a company called G-lones ,

I got a loan of £32k, they then took off the interest for the 1st year, I was told if I defaulted on the repayments of the loan, the pension when come to the end of its term, would be used to pay back the loan and interest , I would then receive what was left.

Sounds good, but seems I was taken for a ride, but still no debts and I still have a roof over my head, if I didn't get the loan my house would of been repossessed.

I have asked for a signed agreement that says, that I authorised a admin fee to be deducted from my account. But still nothing back yet.

I'm sorry to say that I dont think HMRC will be sympathetic to your case as they will believe that you knew that you were knowingly taking part in a tax avoidance scheme. These have been reported often enough in the financail papers.

Thanks ericsbrother yes I have seen something in the press, at the time I was told there wouldn't be any tax to pay because its a loan backed up by my pension.

Has anyone ever used or been party to , a special tax rule called “extra-statutory concession A19” (ESC A19) allows tax arrears to be written off if three conditions are met.

The first is that HMRC failed to make “proper and timely” use of information provided to it; the second is that the taxpayer “could reasonably have believed their tax affairs were in order”; and the third that no notification was sent to the taxpayer within 12 months of the end of the tax year in question.

1. I filled in a tax form when I applied and transferred my pension for the loan. 2. I thought my tax was in order. 3. The loan and the transfer of pension funds took place in the tax year 2009-2010, I received the first letter from HMRC in Jan 2012.

HMRC used to be quite accepting of these claims but over the last 3 years they have rejected a huge number on the grounds that you should have known that we have made a mistake. When challenged they sometimes backpeddal but they wont for this size of debt. Try one of teh financial help editors of a newspaper, they have contacts and clout as it looks as though you have been missold a product and lost your money so you will elicit sympathy if it becomes likely that the public will get to hear of it adn HMRC may well adjust their figures accordingly.

Ok thank you again for you help

Hi, good people,

                                       I have had some good news, yesterday I received on email from The FSCS, telling me they have completed their investigate into  Guardian Pension Consultants Ltd.

They have awarded me just over £33,000 for the lack of due diligence on their part, on investing my sipp into KJK Investments/G.Loans. I would suggest that everyone that as had dealings with this company, make a claim to the FSCS. 

Decision Letter.pdf

hello fil

is this to do with 

THe buying of shares in a SIPP - Pensions - including Pensions Fraud - Consumer Action Group

and is trictrev you too?

or do you want your old thread reopened to update it?
 

Hi yes, I would like this to be posted on the old thread if possible thank you.

done