Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Controls definition

What does Controls mean? In practice, controls are the user-facing settings (eg a cookie banner, preference centre or consent management platform) that let individuals accept, reject or later withdraw consent to cookies and similar tracking technologies. The term is descriptive rather than defined in statute, but requirements flow from PECR (UK) and the ePrivacy Regulations 2011 (Ireland), read with the UK GDPR/GDPR standard for consent and regulator guidance (ICO, DPC, EDPB). Key features: - No non-essential cookies before consent; essential cookies only for a service the user requests. - Granular choices by purpose/vendor, with “accept all” and “reject all” presented with equal prominence; no...

Investment‑regulated pension schemes (SIPPs/SSASs): UK tax rules on taxable property, direct and indirect holdings, diverse commercial vehicles, and unauthorised payment, income and capital gains charges

Published by a LexisNexis Pensions expert

Practice notes

Investment-regulated pension schemes (IRPSs)

Investment-regulated pension schemes (IRPSs) are a distinct class of registered pension schemes that face extra controls over the asset types permitted as investments. They were established as a separate form of registered pension scheme by the Finance Act 2004 (FA 2004), then adjusted ahead of 6 April 2006 by the Finance Act 2006, as set out by the Chancellor in the Autumn Statement on 5 December 2005.

An IRPS may take the form of either an occupational or a personal pension scheme, with the main types generally treated as IRPSs commonly described as:

small self-administered schemes (SSASs) (a form of occupational pension scheme), and
self-invested personal pensions (SIPPs) (through which a member can exercise almost complete control over investment choices)

Unless transitional protection applies (see below), from 6 April 2006 IRPSs have been prevented from investing, whether directly or indirectly, in ‘taxable property’ without facing heavy tax charges. Acquiring an interest in ‘taxable property’ held for the purposes of an arrangement under the pension scheme relating to the member would result in an IRPS having made...

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Alistair Hill

Brodies LLP

Alistair is a Legal Director in the Brodies pensions team, where he practices both as an English and as a Scottish solicitor. He helps a broad range of employers, trustees and other professionals with defined benefit and defined contribution pension schemes, including advising on the pensions aspects of corporate transactions and public/private sector staff transfers. From his days in-house at a leading insurer, Alistair has also retained an active interest in developing and maintaining defined contribution pension propositions from the provider's and administrator's viewpoint, such as personal pension, mastertrust and SIPP products. While he would argue passionately that clients shouldn't haven't to worry about them unless they want to, Alistair has always been interested in the more technical aspects of pensions law. Besides his work for LexisPSL, this has led him to play an active role in the professional bodies and more generally in debating law reform and...

Web page updated on 21/05/2026

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