0
Hi I have been reading about these plans a lot lately as I have been interested in them myself, one thing is for sure my pension won't be all it is craked up to be when I/we retire and my husband signed out of his when he was 18!! I took this write up from Owner Invest - I found them when searching the net looking for information about SIPPs.
Self Invested Pension Plans (SIPP) are one of the most tax efficient and flexible methods of saving for your retirement and savers have more control of their financial destiny because the scheme member has the power to decide when and where the assets of their pension fund are invested. The tax advantages of '''SIPPs are very appealing with contributions treated the same as contributions made to personal pensions. Individual contributions automatically receive basic rate tax relief whilst higher rate tax payers can claim additional relief through their tax returns and there is no capital gains tax applicable on growth.''' Although they've been around since 1989, it wasn't until pension regulations were relaxed in April 2006 that they became more accessible and now everything from shares, company bonds, cash and commercial property can be held in a SIPP wrapper. Hotel rooms in the UK and overseas now constitute a suitable tax free SIPP investment - provided there is no possibility of free personal use. Your SIPP can own an individual room or more, or share in several through a syndicated arrangement.
There seems to be a lot of gain to be made here and worth talking to someone who is a professional in these matters.
Add your answer:
Earn +20 pts
Disadvantages of personal selling?
u need to sell ur self..!
Is investing trust money through the trustee's personal investment business self dealing?
Yes
Where can one sign up for a self-employed personal loan?
One can apply for a self-employed personal loan at most High Street banks, such as Lloyds or NatWest. One will need evidence that one can repay any loan and collateral may be required.
I am a self-employed person. Will I get a personal loan from a bank Will the amount be different?
Yes, as a self employed individual you can get a personal loan from a bank. Some banks offer it at different rates to the individuals while others need extra documentation for the loan. You will need to check with your bank about it.
What is the difference between personal credit and business credit?
The difference between personal credit and business credit is that personal credit only applies to one person; one's self. However business credit can be applied to the employees in any company which are covered by the business insurance.
How do SIPP pensions function?
The acronym "SIPP" stands for "Self-invested personal pension". When using SIPP, individuals can make their own investment decisions by selecting investment options approved by "HM Revenue and Customs".
How does SIPP scheme work in the UK?
Self-Invested Personal Pension, or SIPP, is personal pension plan approved by the UK government. It allows people to control the money going into their pension fund and make their own investment decisions with that money, provided that they perform only the types of investments approved by HM Revenue and Customs (HMRC).
What does Sipps have to do with pensions?
Sipps is an acronym for self-invested personal pension. It is a government approved personal pension plan in the UK. It allows individuals to have complete freedom with their investment plans and options.
How much pension are you entitled too you have been both self employed and an employee?
You must contact your pension providers to ascertain this information.
What is intrapersonal commitment?
Intrapersonal commitment refers to a person's dedication, loyalty, and responsibility towards their own beliefs, values, and goals. It involves being fully invested in personal growth, self-improvement, and self-care, often leading to a stronger sense of purpose and fulfillment in life.
What are personal qualities needed for an actor?
self confidence and self esteem.
How do you spell mi?
Me. It is a personal pronoun that means self. It is an identifier for one's self.
Looking at both your personal skills and your personal qualities is called?
self-evaluation
What are self descriptive tests?
I think self descriptive tests are a form of self-awareness tests where the purpose behind such is so that to know the personal preferences and personal reactions of the person when faced with such situations.
What is self-competition?
Self-competition is when someone takes on challenges to up their personal goals.
What is personal huygine?
Your personal clenliness Cleaning your self brushing teeth showering your b.o
What is your own personal gain?
One's own personal gain is known as self-interest.
