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Sipps & property purchase
HeatherBlacklock
Posts: 1 Newbie
Can a SIPP be used to purchase an up and running business which is a cottage being let out on a weekly basis ?8. I understand that it may not be occupied by the SIPP owner nor any of their beneficiaries.
0
Comments
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Domestic properties cannot be held in a SIPP unless it's part of a "genuinely diverse commercial vehicle", i.e. the property is no more than 10% of a portfolio, and the value is over £1m
Otherwise it would be ripe for avoidance of IHT and CGT.
here's one explanation:
http://www.mwpensions.co.uk/handouts/residential%20property.pdfWe need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth0 -
Not permitted, thenudeone has explained why: residential property ban.0
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