Reita welcomes relaxed SIPP property rules

The decision allows investors who were previously stuck with uncompetitive products to move their pension to another provider. Previously, SIPP investors who bought commercial property on a mortgage of up to 75% loan to value prior to A-Day would not be able to change provider. Reita says this meant many investors were stuck with uncompetitive and highly priced SIPPs. HMRC has decided to allow commercial property borrowing from one SIPP to another without facing large tax penalties. Phillip Fry, programme director at Reita, says: "Given the recent budget changes to pension taxation ...