Revenue got GEB's SIPP status wrong, suggests NS&I

News surfaced last weekend which suggested financial advisers may themselves have been misinformed by NS&I when told the GEB can be included inside a Self-Invested Personal Pension. It now turns out the Revenue may instead have made the mistake, suggests a statement from NS&I, so financial advisers are being warned not to place this NS&I product inside SIPPs until told otherwise. NS&I says a small number of its customers may have invested in a GEB as part of a SIPP, following “erroneous advice from The Inland Revenue” which was then passed on by NS&I. However, those individuals who...