Buying Commerical Property with Sipp! (Business from home)

Legacy_user

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?!

chucknorris

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.html

mania112

chucknorris wrote: »

No, definitely not:

http://www.ftadviser.com/2015/01/08/pensions/sipps/rules-for-investing-in-property-in-a-sipp-2xnc5pQbcU6ZPNaYc1bDFO/article.html

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.