If you own a commercial property or are thinking of investing in a commercial property with a view to letting the property out you should consider investing by way of a SIPP or a SSAS.
A SIPP stands for Self Invested Personal pension and a SSAS is small self administered scheme.
My clients who have invested through such pension schemes already either own the property and let it to their company or are buying it with a view to letting it to their company. What happens then is that the rent from their company is invested into their pension scheme.
The benefits of investing through a SIPP or SSAS include:-
– contributions into the scheme receive tax relief
– the rent received by the pension scheme is not subject to income tax
– the property when sold has not capital gains tax liability
– in most circumstances there will be no Inheritance tax liability on death
– the ownership of the property prevents the pension being an asset that could be claimed in bankruptcy
If you are thinking of investing in a commercial property by way of a SIPP or a SSAS I would be happy to handle the legal part of the transaction for you at a fixed fee price. please feel free to call me on 01623 663244