Allowable turns into prohibited
Brecker, Nick
Allowable turns into prohibited - 2006 - Estates Gazette (0605) 4 February 2006, 270(1) .
Reports on the decision in the December pre-Budget statement to remove all tax advantages for personal property such as holiday homes or buy-to-let residential properties bought through self-invested pension funds (SIPPs). Warns that large tax clawbacks await those who purchase residential property through SIPPs and that SIPPs will be restricted to a borrowing maximum of 50% of pre-borrowing fund value. It is however still possible to buy business property using a SIPP. Advises considering property funds as an alternative SIPPinvestment.
FINANCE ACT 2004 S157
FINANCE ACT 2004 S242
Allowable turns into prohibited - 2006 - Estates Gazette (0605) 4 February 2006, 270(1) .
Reports on the decision in the December pre-Budget statement to remove all tax advantages for personal property such as holiday homes or buy-to-let residential properties bought through self-invested pension funds (SIPPs). Warns that large tax clawbacks await those who purchase residential property through SIPPs and that SIPPs will be restricted to a borrowing maximum of 50% of pre-borrowing fund value. It is however still possible to buy business property using a SIPP. Advises considering property funds as an alternative SIPPinvestment.
FINANCE ACT 2004 S157
FINANCE ACT 2004 S242