Residential property can be included as part of an owner director's SSAS investment providing the property is inhabited by a third-party tenant, according to an IFA firm who has now created such schemes.
Until now, it was thought SSAS pension plans could only receive commercial propertyinvestment - which in the main is too expensive to purchase – otherwisethe Revenue would not pay any tax relief. However, Midlands-based IFA firm Central Financial Planning has discovered private or residential property can now be included as one of the options building company-sponsored pension accrual, providing the investment and scheme meet specific terms. Section 590 of the Income & Corporation Taxes Act 1998 concerning pensions legislation does allow retail property to be included as a Small Self...
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