What do people think about SIP pensions?

Question

I have my own company and have wondered about buying the building from the company with my Pension and leasing it back, this all sounds ok in theory but then you are tying up a lot of assets in your pension which you cannot get at if your plans change, i would be interested to hear other opinions

Answer 1

your own commercial property in a Self Invested Personal Pension is a very tax efficient planning option as your pension fund becomes your land lord , the rental payments are tax deductible reducing corporation tax and growth in the property is also tax free. the hard part is getting enough into your pension to buy the property as effectively the pension scheme can only borrow on third of the sale price plus all costs (solicitors stamp duty ect).

As Steve recommends you can do it yourself , however i would suggest that there are plenty of Pitt-falls to trap the beginner , and a good advisers fee is more likely to be around 3% or less depending on the sums involved. If it all goes wrong you can take an adviser to the ombudsman to get redress , if you do it all on your own you have no come backs,,,,whats the old legal saying??? a person who represents themselves has a fool for a client.......

Answer 2

YES !!!

"A Day" was the best thing ever done to help Directors of small businesses build up their Pension. Check out discussion on the web eg. link below

It's not difficult - you can do it yourself (or get ripped off by some 'Financial Advisor' who can't even add 2 & 2 without taking a 20% fee ...)