Self-invested personal pension (SIPP) holders with Scottish properties in their portfolios will need to consider their options in the event of a 'yes' vote in the upcoming independence referendum, says SIPP provider Suffolk Life.
The operator said Scottish properties would be classified as non-standard assets if Scots vote to break away from the UK, which could mean higher charges or potential problems for those with providers that cease to accept them. It pointed out that the Financial Conduct Authority last month clarified non-UK commercial properties would be considered non-standard assets. The regulator confirmed providers handling these assets will need to hold higher realisable capital than competitors dealing only with standard assets, in the form of a surcharge. Ahead of the referendum on 18 Septemb...
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