The Inland Revenue proposals to simplify tax had stretched to pensions allowed to purchase commercial property with the money invested in them.
Self-Invested Personal Pensions (SIPP) and Small Self-Administered Schemes (SSAS) are more flexible pensions and allowed to invest more widely than normal personal or stakeholder pensions.
With the proposals to simplify taxation it was thought that the Inland Revenue would remove the ability for pensions to purchase commercial property and bring their investments into line with other pensions. Instead the rules are going to change in terms of these pensions other flexibilities – namely their ability to make loans and purchase shares linked to the owner of the pension scheme.
Our tip: SIPP and SSAS investing can be very beneficial to business owners in terms of buying your business premises, investing in your company and providing a shelter from capital gains and inheritance tax.
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Learn more about self invested pensions in the Pensions Adviser.com.
Go straight to SSAS (for directors) or SIPPs for private individuals, partnerships and sole traders.
Download our free fact sheet on self invested pensions in the client centre (registered users only).