Saturday, December 17, 2005

SIPPs: Fine wines, yachts & property

You may have read recently about SIPPs
These are Self Invested Personal Pensions. It was thought that you would be able to put property, fine wines & yachts into them from April 2006.

However the son of a Scottish Minister, Gordon Brown has halted the plans.

state pension plans in disarray it wouldn’t be good if the richest members of society were able to enjoy 40% tax relief on them.

ie the tax payer foots 40% of the bill.

Related State Pensions, Final Salary Pensions

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