Removal of tax breaks on direct investment in residential property and esoteric assets in Sipps has provoked a flood of comments from IFAs concerned about the effect on business and consumer confidence.
Many comments on the announcement in the Pre-Budget Report, (see previous IFAonline story - Pre-Budget: Tax breaks removed on sipp-led investments), express disbelief at the last minute u-turn by the government and what it means to them with regards to the issue of buy-to-let as well as loss of time, money and development. Graham Worrall, from Cyberifa, says it was the government who came up with the idea to include residential property in sipps so officials should take the responsibility for the costs incurred by providers, advisers and clients when changing their mind at such a late stag...
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