Government defends its Sipp reform proposals

property

The Government has denied its move to allow Sipps to buy residential property will stoke interest in...

The Government has denied its move to allow Sipps to buy residential property will stoke interest in second homes. Speaking in the House of Commons last month, Liberal Democrat MP Andrew George, said: "I was pleased when this year the Government honoured its promise to reduce [the Council Tax] discount from 50% to 10%." However, he added: "What concerns me is that, having largely closed one tax loophole by removing the council tax discount for second homes, the Government is about to open a new one that could provide even greater encouragement to those wanting to invest in second homes."...