Partner Article

Clough & Willis sees 22% rise in SIPP & SSAS commercial property enquiries

Bury based law firm Clough & Willis has reported a 22% year on year rise in enquiries from clients who want to use either a SIPP (Self Invested Personal Pension Scheme) or a SSAS (Small Self Administered Scheme) to release equity from their current business premises or to fund the purchase of a new commercial property.

The rise in the use of these tax-efficient pension planning options is - Clough & Willis claims - due to an increase in awareness of the two schemes and because people are still shying away from traditional lenders or finding it hard to secure finance.

David Leviten, head of the commercial property team at Clough & Willis, said: “Buying a commercial building via a SIPP or a SSAS can be a good option but it can also be a complicated process. The key is to take the right advice from both a specialist property solicitor and from a financial advisor to ensure you know the potential pitfalls as well as the obvious tax benefits.“

As a result of the upturn in enquiries, Clough & Willis is now offering a fixed fee service for these kinds of transactions. More information can be found on the firm’s website.

This was posted in Bdaily's Members' News section by ConkerPR .