A positive judgment for SIPP providers, but a wave of mis-selling claims gathers

SIPP providers are facing scrutiny from HMRC along with a groundswell of mis-selling claims or complaints. Paul Gair and Patrick Shee survey the trends and examine a recent tribunal case involving the tax authority.

Paul Gair (paul.gair@TLTsolicitors.com), a partner with TLT Solicitors, advises on disputes involving a range of complex financial products, trade finance issues, fraud and insolvency, as well as contentious regulatory matters. Patrick Shee (patrick.shee@TLTsolicitors.com), an associate at the firm, specialises in contentious banking disputes, and has particular expertise in professional negligence cases.

Self-Invested Personal Pensions (SIPP) are increasingly in the headlines as the number of complaints to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) continue to rise.