LibDems want to limit Sipp contents - papers 24th June

Chris Huhne, the Liberal Democrats’ shadow chief secretary to the Treasury, has tabled a clause in the Finance Bill which would stop people claiming tax relief by putting holiday homes, art and vintage cars into their self-invested personal pensions. Huhne is proposing only directly-owned residential property and assets which cannot produce an income return, such as wine or gold bullion, should be included in the expanded range of investments which can soon be placed inside a Sipp. “Any increase in value plus any income is entirely protected from the taxman,” says Huhne. THE PENSIO...