If you are looking for an extremely tax efficient way to hold commercial property, to de-risk property investment or to release equity from your business premises, a personal pension scheme could be the answer for you. Despite the current credit crunch, this can be more achievable than you may think.
Withy King Solicitors have a specialist team of lawyers who are able to advise you from the beginning of any pension property transaction through to the end.
Withy King’s expertise relates to both Self Invested Personal Pensions (SIPP) and Self Administered Pension Schemes (SSAS) and have established a number of close links with regional and national pension trustees and professional advisors.
The team have developed an enviable reputation for dealing with split ownership situations where a single property or portfolio of properties are held between the directors or owners of a business and their SSAS or SIPP pension scheme using a simple trust, partnership or LLP structure. The team have worked with nearly all the main clearing banks to put these structures in place and are able to efficiently guide them and the clients through the process to ensure the correct result.
Some of Withy King’s recent pension fund transactions include:
- The purchase of a pub/restaurant in Cotham Hill, Bristol by an LLP formed between the company directors and their SSAS for the occupation by Loungers Ltd.
- The transfer of a freehold Georgian property in Bath for use by Snapdragons Nurseries Ltd.
- The transfer of converted barns in Almondsbury Nr Bristol into the joint names of the company owners and their SSAS with an occupational lease granted to Hydrock Consulting Limited.
- The acquisition of a seafood manufacturing unit in Kent in the joint names of the company directors and their SSAS with an occupational lease back to Shield Foods Ltd
- The transfer of two properties in North West London into a property partnership owned by the company directors and their SSAS with one unit being let on an investment basis to a third party and the other unit being let to Point 6 Design Ltd.
