These are things that you can touch and move. Examples are art,
antiques, jewellery, fine wine, boats, classic and vintage cars,
stamp collections, rare books.
Assets used for the purpose of administration or management of the scheme will not be subject to the tax charges unless, exceptionally, they are held for the purpose of an arrangement relating to a member of the scheme.
See RPSM07109460 for details of a similar provision relating to indirect holdings in vehicles that possess assets used solely for the purposes of administration or management of a vehicle.
Certain tangible movable property that is specified in Regulations will not be taxable property so will not be subject to tax charges when held as a scheme investment by an investment regulated pension scheme. Such as gold bullion see below and also see RPSM07109460.
Any specified items will be of a type that is normally held as investments and do not provide any possibility of personal use.
Investment grade gold bullion has been specified. The definition of investment grade gold is gold of a purity not less than 995 thousandths that is in a form of a bar or a wafer, of a weight accepted by the bullion markets.
Any Regulations that may be made to allow certain tangible moveable property to be held and not count as taxable property may have effect from an earlier date to that on which the Regulation is made.
|Glossary ( RPSM20000000)|