A J Bell urges rethink on "wasting" assets in Sipps

Andy Bell, managing director, states the company will not allow wasting assets as a permitted asset class within its Sipp because of the unattractive tax treatment it would provoke, along with custody and insurance issues. Wasting assets are so-called because they often suffer effects of depreciation and are deemed by law to have a limited life of 50 years. Examples include boats, vintage cars, wine, plant and machinery, antique watches, and racehorses. Bell says: “I have been horrified at the level of hype surrounding the holding of such investments in Sipps. Those peddling such ideas...