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Buying Commerical Property with Sipp! (Business from home)
Legacy_user
Posts: 0 Newbie
So, I run a business from home selling things. Can I use my SIPP to buy my home? Would it be classed as a commerical property?!
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berbastrike wrote: »So, I run a business from home selling things. Can I use my SIPP to buy my home? Would it be classed as a commerical property?!
No, definitely not:
http://www.ftadviser.com/2015/01/08/pensions/sipps/rules-for-investing-in-property-in-a-sipp-2xnc5pQbcU6ZPNaYc1bDFO/article.htmlChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »
one of the 'golden rules' on pensions is that you mustn't take a personal benefit from it before retirement, so for that reason property must be commercial and any element of residency eliminates it from viability in a SIPP.
There are some caveats, and the easiest example of this is a pub landlord who is allowed living quarters upstairs - but this also has a number of provisos.0
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