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UK court rules £75k pension transfer loan was liberation

UK court rules £75k pension transfer loan was liberation

A UK court has ruled that a £75,000 ($92,106, €87,429) loan taken out by a client to fund investments as part of a pension transfer was a form of pension liberation and should be subject to tax. In 2010, Richard White looked into transferring his sizable final salary pension scheme with British Airways into a self-invested personal pension (Sipp) so he could invest in a company called Imperium Enterprises. Please link to International Adviser to read the full article by Monira Matin.

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