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14 August 2008
PLEASE NOTE: A special
preview of the webcast for journalists only is available at www.alliancetrust.co.uk/pressplayer
Alliance Trust Savings has published a webcast and bulletin to explain
to advisers the pros and cons they should consider when looking at investing in
shares of unquoted companies in a SIPP. The bulletin and webcast also detail
the process involved in making this type of investment in a SIPP, the taxation
issues, including ensuring tax charges on taxable property are avoided.
Pensions Development Manager Steve Latto said, “Investing in unquoted shares through your SIPP can be a complex
process, which is why we have produced a webcast and bulletin to help advisers through
the process, when guiding their clients on making this type of investment.
“Investing in unquoted shares can be ideal
for those with a large pension fund who have an appetite for risk and are
looking for an investment that has significant growth potential. It can also be
a good investment opportunity for employees of the particular company allowing
them to access the tax advantages that come with a pension. If an adviser's client
already invests in unquoted shares in their own name, they may want to move
them into a SIPP to take advantage of the tax-friendly environment of a
pension. This will also provide people with protection from capital gains tax.
“Two of the biggest considerations
advisers need to make when advising clients on these investments are how voting
rights are going to be dealt with and whether the liquidity of the pension fund
will be an issue. As the trustee of the SIPP will be the shareholder, advisers
need to understand how the trustee will deal with any voting rights attached to
the shares, as these are often of great importance when investing in unquoted
companies. Also advisers need to evaluate the liquidity of the SIPP and its
ability to sell the shares, particularly if the SIPP needs to pay out
benefits."
Advisers can read the analysis in the Pensions Bulletin called ‘SIPPs: investment
in unquoted shares’ and view the webcast that is available on the Adviser
Centre of Alliance Trust’s website at www.alliancetrust.co.uk/adviser
Advisers can request future e-newsletters from Alliance Trust Savings by
emailing businessdevelopment@alliancetrust.co.uk
and they can register for all additional services on the adviser centre at www.alliancetrust.co.uk/adviser
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Contacts
Jane Holligan, Media Relations Manager Anna
Schirmer / Stuart Lerman / Anna Moulds Alliance Trust Lansons
Communications Tel +44 (0)1382 306064 Tel +44 (0)20 7294 3605 / 3674 /
3681 Mobile 07745 783212 Email alliancetrust@lansons.com Email jane.holligan@alliancetrust.co.uk |