SIPP body wins property tax victory

SIPPs and other member-directed pensions will be able to restructure borrowing terms on loans made against more than 50% of the fund's value without a tax penalty, as long as the amount borrowed is not increased. Leases on commercial property held by the pension scheme can be also be re-negotiated allowing reduced rent to be paid, even where the property is let to a firm connected to the pension scheme members. This is provided the re-negotiated lease is still on a commercial basis and does not provide more favourable terms than would be given to a tenant not connected to the scheme membe...