SIPPs and residential planning permission

ianhy

Hi,

I’m planning on using my SIPP funds to invest in farm land and buildings (but not a residential farm house).

If one of the building subsequently is awarded planning permission to convert to residential use (or a new build house is approved) at which point must the building/land be moved outside of the SIPP:

1. on the application for planning permission [/font]
2. on award of planning permission [/font]
3. when building work starts [/font]
4. when building becomes habitable[/font]
5. when building work completes[/font]
6. when someone starts living in the building

Your advice appreciated.


PS: I assume that it is not possible to buy land/building that already possesses planning permission.

ianhy

All,

I've asked the question of three SIPP providers, their answers:

- Suffolk Life: move out of SIPP when building work starts.

- Killik: move out of SIPP when planning permission approved.

- TM SIPP Services: can buy land with residential planning permission. Need to move out of SIPP when property becomes habitable.


Best regards.

Retired_I.F.A.

Might be best to ask the inland revenue.

Footsie_2

Hornbuckle Mitchell might be able to give you an answer, they have a reasonable technical team.