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Once in a lifetime

Sipping From Brown’s Poisoned Chalice

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Some have bought or reserved homes off-plan, such as buy-to-let flats, intending to sell the property to their Self-Invested Pension Plan (Sipp) after the rule change on 6 April. Many were relying on the tax relief from the Sipp to pay for the property.

There is some protection for people who have already exchanged contracts to buy a new property not yet built for their Sipp. They can still get the tax relief, but they must sell the property before it is completed, probably at a lower price, given the market may be flooded with such forced sales.


Commercial Property

The door is still ajar for those investors wishing to put commercial property into a Sipp, but they must act quickly, says David Whittaker, managing director of brokers Mortgages for Business.

“The funding rules will change on 5 April, closing this opportunity for many investors,” he says.

From 2006, business partnerships, such as lawyers, accountants and dentists, who own their own premises will be able to sell them to their Sipp, releasing a large amount of cash, and pay rent to their pension fund.

Is this bit right???? :blink:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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