SIPP funds to purchase solar panels

kev_george

I have some money in a SIPP and want to use some of it to buy some solar panels for my house. Am I able to buy them so that the SIPP owns them and they FIT is paid back into into the SIPP? Thanks in advance.

thenudeone

There are lots of rules to prevent the rich using their pension (funded with tax relief) to buy assets such as wine, race horses, cars, domestic property, yachts, companies of which they have a directorship or significant control, etc.

Basically anything which might give you some personal tangible benefits are excluded from a SIPP.

jamesd

If it's part of enhancement of a commercial property that you have purchased within the SIPP I expect that the answer would be yes. Otherwise it's no, because residential property is a prohibited investment, except in group schemes like student accommodation.