Treasury denies A-Day to be postponed

With estimates of £26bn being invested in property over the next few years as the result of 40% tax relieve originally planned under sipp rules, it is no wonder the Treasury saw a potentially huge problem ahead, suggests Michael Owen, financial planning director at private banker Duncan Lawrie Group. Two types of people have been affected by the U-turn, Owen says. Firstly, there are those who were planning to get property who will have to change their mind, for example, on the use of property as an asset class to fund children’s university fees. Secondly, there are those who were to...