London and Colonial launches EU SIPP for expats

The EU SIPP is similar to UK SIPP but enables a wider range of investments including residential property in both the UK and EU, provided they are not used by either the SIPP member or a connected person. It allows for a tax free lump sum of 25% of the fund value to be taken from the age of 55, with the remainder providing income, which can be paid monthly, quarterly or annually. There is the additional option to receive ad hoc payments during the year. The SIPP is primarily aimed at ex-patriot individuals who have been living outside the UK for five tax years or more. Adam Wrench,...