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What is a Self-Invested Personal Pension (SIPP)?

It is a Registered Personal Pension Scheme, where the member decides where the assets are to be invested.

Who can have a SIPP?

  • Any one in the UK up to the age of 75 can have a SIPP
  • There is no lower age limit

Investments (other than property)

  • A SIPP can invest in practically anything. Some investments are wholly tax free on both income and capital gains (other than Advance Corporation Tax payable on UK dividends) whilst other investments are significantly taxed
  • Tax of 40%, 55% or even 70% applies on such investments as art, antiques and personal chattels

Property investment

  • UK commercial property is tax free
  • Overseas commercial property may be subject to local taxes
  • UK residential property is allowed as a wholly tax free investment provided it is via a "suitably diverse commercial vehicle". This means it could be allowed in a unit or investment trust, REIT or an OEIC.
  • Overseas residential property can be permitted, although there may be local taxes and legal issues with regards to ownership


  • Up to 50% of the net assets of a SIPP can be borrowed for any purpose
  • Any borrowing must be on commercial terms


  • Lending should be prudent, secure and on a commercial basis
  • Lending is not permitted to member or a connected party.

Unquoted Shares

  • There are no limits
  • Since HMRC may impose significant taxes on connected companies that have taxable property, we would advise caution in this area.

Investment transactions with Connected Parties

  • Such transactions are permitted and must be on a commercial basis
  • They must be independently valued
  • A SIPP can buy or sell to a member

Contact Us for more information.

The value of units can fall as well as rise and you may not get back all of the amounts invested.

The tax treatment is dependent on individual circumstances and may be subject to change in the future.

Trusts advice is not regulated by the Financial Conduct Authority.

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