Pre A-Day SIPP tax benefit unclear

The group says uncertainty still clouds a disclosure of tax avoidance schemes prior to 6th April 2006, which could impact portfolios, as it is likely tax approval will be withdrawn for certain types of investment until that date. While the threat is removed after A-Day, further action by the Inland Revenue is even less clear, except in instances of unauthorised payments, the SIPP Provider Group says. The tax avoidance disclosure legislation for pension schemes came into force in August 2004, making it necessary to disclose any tax avoidance schemes involving pension schemes. Howeve...