Buy Gold through SIPPs (Self Invested Pension Scheme) where the UK Government pays up to 40% of the cost when you use your pension to buy Gold Bullion’
When investing through a Self Invested Pension Scheme (SIPP) the UK Government pay up to 40% of the cost when you use your pension to buy gold bullion. This document tells you what you need to know, and introduces you to the market leading companies that will ensure you receive assistance, advice and ongoing support for this and a number of additional permissible investments.
The value in making a gold purchase through your SIPP is unquestionable. In effect high rate taxpayers (who receive up to a 40% tax relief) are buying their gold at approximately $660/£440 per ounce, levels not seen since 2007/2008. Taking this and expert opinions into account the potential to profit from gold in the coming months and years is exceptional.
The aim of a SIPP is to enable UK investors to effectively save for their retirement. Because this is a self-directed approach that removes the reliance on state pensions, the government is willing to offer significant tax breaks to those who proactively save for their future. SIPP’s were launched not only to take advantage of these breaks but will also allow investors to control the direction that the pension takes.
Key Features of a SIPP
Self directed
Choose from a wide range of underlying assets (see permissible investments for more info)
Draw down on a cash, tax free, lump sum after your 55th birthday* Conditions apply
Continue depositing up to your 75th Birthday
No penalties for non contribution or irregular receipts
Income can be drawn straight from the SIPP (after 55) so no need to buy an annuity.
The tax benefits the holder:
Basic rate taxpayers will receive 20% tax relief applied for automatically by the trustee.
Higher rate taxpayers will also have 20% tax relief requested on their behalf and can also claim up to an additional 20% through their self-assessment*
No capital gains tax will be paid on profits.
No income tax will be paid on income except 10% related to dividends.
Limitations:
A maximum of £255k or 100% of income, whichever is less, can be invested in any one-tax year.
The lifetime allowance is currently £1.8 million. If total fund deposits exceed this level there may be tax charges.
*Conditions apply and financial advice should be sort.
What are the restrictions when adding Gold to a SIPP?
To add gold to a SIPP all bullion must be London Bullion Market delivery grade and be safely stored and insured on behalf of the investor. Global Commodity Investments Limited are able to aid in purchases and maintain accounts that meet these requirements and furthermore offer the ongoing advice required to take advantage of this investment opportunity. Those investors that wish to take advantage of leveraging should also be aware that this is non-recourse and offered with no liability for increased exposure.