Allowable turns into prohibited
Language: English Series: Estates Gazette ; (0605) 4 February 2006, 270(1)Publication details: 2006Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L132474 (Browse shelf(Opens below)) | 1 | Available | 132474-1001 |
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.