Hornbuckle Mitchell SIPP (PO-2254)

Subject

Mr and Mrs Johnson’s complaint against HM follows a failure to pay taxes on a plot of land (the land) in the United States, which formed part of their SIPP investments which resulted in the land being repossessed by the regional authority in Florida and then sold. Mr and Mrs Johnson complain that the compensation offered by HM is inadequate and that HM could have taken steps to prevent the land from being sold on.

The Pensions Ombudsman’s determination and short reasons

The complaint should be upheld against HM. This is because they have not offered Mr and Mrs Johnson appropriate compensation for the loss to their SIPP resulting from their admitted failure to pay the taxes on the land, which led to the land being repossessed and sold.