The new Pension Scheme SIPP is already causing a huge demand in the overseas property market, since our previous Newsletter which introduced the changes in the regime regarding private pensions, we have had a overwhelming number of clients that since then have purchased properties through their pensions.

From April 2006 clients will be able to pay into their pensions the equivalent of their years gross salary where as before they were only allowed to pay in a small percentage, this will allow people to build up a good amount of money much quicker and this money can now be invested in properties abroad. By purchasing a property through your SIPP pension you will not be liable for capital gains when you sell the property, you will not pay any tax on rental income paid into the pension company. The clients who have already purchased in Spain taking a vantage of the new regime bought properties with completion after April 2006. Clients can open a SIPP pension or transfer any private pensions to a SIPP scheme, even clients with frozen pensions will be able to transfer to the new scheme.
Details HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain