Tax Tax Tax
Completing your tax returns? This time of year always brings to light the amount of tax that you are paying. If you are looking at pension and tax efficiencies then I urge you to consider investing in a commercial property via a pension scheme such a SIPP (self invested personal pension) or a SSAS (small self administered scheme).
There are a number of tax benefits for investing in a property by a SIPP and SSAS including:-
– growth is free from CGT
– tax relief at the individual or company’s highest rate
– rental income received by a pension scheme attracts no UK income tax
– on retirement 25% of the pension fund can be paid as a tax free lump sum
– on death before retirement the whole payment under the pension fund could be paid as a tax free lump sum i.e. no inheritance tax
If you need any advice on commercial property please call Christie on 01623 663244.