Any loan advanced before 6 April 2006 will not be subject to the
new rules (apart from the rules on debts) unless there is a change
in terms of the loan.
Under the rules that applied up to 6 April 2006 pension
schemes were permitted to hold interests both directly and
indirectly in taxable property, broadly some types of residential
property and in some cases tangible movable property. The taxable
property provisions introduced from 6 April 2006 will not apply,
subject to some conditions, to any taxable assets that were
legitimately held under the rules operating before 6 April 2006 and
which are not improved. For further details see page
RPSM07109700.
All other assets will be subject to the new rules from 6
April 2006 in full.
| Glossary ( RPSM20000000) |
