Taxable property includes:
- residential property, and
- tangible moveable property.
Tangible movable property includes not only items such as works of art, antiques, vintage cars, stamps and jewellery but also plant and machinery, motor vehicles, office equipment and fixtures, fittings and furnishings that are not part of the fabric of a building.
Direct investments in taxable property
Direct investment by a pension scheme in taxable property is an unauthorised payment and could give rise to tax charges on the member(s), the pension scheme (via the Scheme Administrator), and any income (or, if greater, deemed income of 10% of the value of the pension scheme’s interest in the taxable property) and any capital gains in relation to the investment.
Indirect investments in taxable property
By investing in a vehicle that holds such property, directly or indirectly, and where that vehicle is not a genuinely diverse commercial vehicle, it could give rise to similar tax charges, although any item of tangible moveable property that is worth no more than £6,000 and is held solely for the purposes of the administration or management of the vehicle’s business is excluded. Investment grade gold bullion is also excluded.
We do not allow investment in taxable property.