Grandparents will be able to buy a property within their Sipp, get 40 per cent tax rel- ief and let their grandchildren live there rent-free from A-Day.The Revenue slapped a benefit-in-kind charge on anyone who holds their residential property within a Sipp and lives in it to close off such abuses but the rules leave notable gaps for certain relatives. The benefit-in-kind charge – which is equivalent to the going market rent for the property – applies to the property owner, their spouse, children, dependents, parents, guests or domestic staff but it excludes siblings, grandparents and grandchildren. Brothers and sisters will be able to hold each other’s properties in their Sipps, claim the tax relief and let the other sibling live there rent-free under the Revenue’s rules. The LibDems plan questions in Parliament on the issue, which they see as an unacceptable perk for the better-off. Standard Life head of pension policy John Lawson says: “This would have a massive effect on the property market because it is not buy-to-let investors putting their properties into Sipps but people buying new properties to get the tax relief and live rent-free.”
The Scottish Widows guaranteed investment bond is a FTSE 100-linked guaranteed equity bond with a term of five years and six months.
The IMA says the FSA should adopt a common disclosure regime covering all products available to retail investors.
Money Marketing’s investment reporter has learned better than to “give it the big lobster” over lunch. In J Sheeky’s last week, he boldly ordered one of the luxury sea-beasts, grilled in a sauce of garlic butter. But the sauce proved to be proved a good lubricant. The claw crackers slipped and a the intrepid reporter […]
The Government may be clamping down on traditional planning but there are other ways to reduce IHT
By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The FCA has fined an AIM-listed investment company £70,000 for failing to inform the market of inside information regarding the compulsory acquisition of one of its holdings. Biogas company Eggersmann Gruppe acquired Tejoori’s entire shareholding of Bekon on 10 August 2016 and informed the market the following day. However, that market update did not mention […]
At our recent Money Marketing In Focus conference, the FCA and Financial Services Compensation Scheme shared a stage to talk about the fallout from the freedoms and where we go from here. It is clear the advisers in the audience were focused on one in issue in particular: how unregulated investments are treated. FSCS chief […]
I received a new enquiry by email this morning. It contained a statement from the sender as follows: “I have spoken to a number of advisers but I feel they are trying to sell me products rather than give me impartial advice. What I want is some proper advice for which I can pay a fee […]