Her Majesty's Revenue and Customs (HMRC) have added unquoted shares to the list of items subjected to tax charges if held within Self-Invested Personal Pensions (Sipps), claims A J Bell Group.
In draft legislation released on Friday, HMRC revealed the new investment rules for Sipps, and other member directed pensions including Small Self Administered Schemes (SSASs). These effectively removed the potential to invest in residential property and more esoteric assets such as fine wines and antiques, except through genuinely diverse commercial vehicles such as Real Estate Investment Trusts (Reits). However on first glance, the new rules did not seem to address the concerns of some parts of the industry on investment in unquoted shares which at the moment is limited to 30% of its...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
