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Curtis Banks PLC has announced today that it has acquired the Full SIPP business of Alliance Trust Savings which will result in the transfer of almost 6,000 Sipps worth approximately £2bn in assets under management.

The Association of Member-Directed Pension Schemes is demanding more effort to halt the promotion of UCIS (unregulated collective investments schemes) to the public.

Pension investors could pay more than 70 per cent in tax charges by including 'taxable property' in their Sipps and SSASs, according to Hornbuckle Mitchell.

Firms using small self administered schemes (SSAS) could be liable for substantial fines if they fail to abide by the rules.

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