Standard Life demands news of tax breaks
Standard Life writes to Revenue to ask if it intends to proceed with unquoted share rules, amidst fears about further Sipp u-turns
Standard Life has written to HM Revenue & Customs asking whether it
intends to proceed with pension tax breaks that will allow private companies to
invest capital in their companies.
The rules mean that Sipp investors will be able to hold unquoted shares in
their pension funds. Small businesses could get an injection of capital from
their own pension fund as a result by issuing shares to their Sipps, the FT
reported at the weekend.
There is anxiety in the pensions industry about the new tax breaks after the
government dropped the residential property rules for Sipps in the pre-Budget
report. Providers do not want to invest money selling products that will be
ruled out by other sudden changes.