Pensions Brought Closer to Home
- Author: John Pullin
- Published: 19/01/2005
Alan Boswell & Company (ABCO), the financial services division of the Alan Boswell Group is highlighting to clients the opportunities arising from forthcoming changes in pensions legislation.
Gary Steward, MD of ABCO explains more:
"From April 2006 there will be new opportunities for investing in residential property as part of a pension fund. These changes have the potential to allow you to:
- increase your property portfolio at a 40% discount
- avoid capital gains tax and inheritance tax on any properties you purchase
- remove income tax from your rental income
- pass on assets to the next generation without tax penalities
"Clients will be able to protect some of their profits from the tax man and this could have a huge impact on the wealth accumulated for retirement."
"As an example, you could purchase a property for £200,000 with the taxman happily paying £80,000 of the bill!"
Gary points out that people shouldn't sit back and wait for these changes to come into effect:
"It's important that people start building up a pension fund now."
More Information
If you would like to learn more about the advantages and disadvantages of such a scheme, or would like to know more about the new regime, complete the enquiry form, call us on 01603 218000 or email gsteward@ab-co.net
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