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14 September 2000
The Inland Revenue has issued, for consultation, draft regulations concerning personal pension scheme investments. Currently the rules governing the investments that can be made by a personal pension scheme are contained in Inland Revenue guidance (IR76). The new draft regulations bring these existing rules within a statutory framework.
The regulations allow personal pension schemes to invest in any assets except assets owned by the members and residential property.
The regulations allow personal pension schemes to invest in any assets except assets owned by the members and residential property.
The Inland Revenue has issued, for consultation, draft regulations concerning personal pension scheme investments. Currently the rules governing the investments that can be made by a personal pension scheme are contained in Inland Revenue guidance (IR76). The new draft regulations bring these existing rules within a statutory framework.
The regulations allow personal pension schemes to invest in any assets except assets owned by the members and residential property.
They also allow self invested personal pensions to invest in a wide range of assets from equities, through collective investments to commercial property. However, the regulations limit certain transactions and investments involving the member of the self invested personal pension.
Finally the regulations define an individual pension account based on the Treasury consultation paper launched on 11 July.
Comments on the draft regulations should be sent to the Revenue before 20 October 2000. Copies of the regulations and accompanying commentary can be accessed on the Revenue website at www.inlandrevenue.gov.uk or by e-mailing: stakeholder@ir.gsi.gov.uk and including 'subscribe investments' in the subject. Printed copies can be obtained by telephoning 020 7438 7514.
The regulations allow personal pension schemes to invest in any assets except assets owned by the members and residential property.
They also allow self invested personal pensions to invest in a wide range of assets from equities, through collective investments to commercial property. However, the regulations limit certain transactions and investments involving the member of the self invested personal pension.
Finally the regulations define an individual pension account based on the Treasury consultation paper launched on 11 July.
Comments on the draft regulations should be sent to the Revenue before 20 October 2000. Copies of the regulations and accompanying commentary can be accessed on the Revenue website at www.inlandrevenue.gov.uk or by e-mailing: stakeholder@ir.gsi.gov.uk and including 'subscribe investments' in the subject. Printed copies can be obtained by telephoning 020 7438 7514.
