Wealth and Succession Planning
Self-Invested Personal Pensions (SIPPs)
SIPPs offer a robust vehicle for tax-efficient wealth management, whether that be with regard to the ownership of commercial property (including agricultural property) or as the vehicle for an investment portfolio. Such benefits include:
- Income tax relief: Contributions to SIPPs and other private pensions attract relief from income tax, providing immediate tax benefits
- Inheritance tax planning: SIPPs can be used to minimise inheritance tax liabilities, as they sit outside and do not form part of a person’s taxable estate, ensuring that more of their wealth is passed on to heirs
- Investment control: SIPPs allow individuals to have greater control over their investment choices, aligning with their broader wealth management strategy
