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Unquoted shares (ones which are listed on a Recognised Stock Exchange) are an investment we will permit. They must not, however, be used in an attempt to evade tax charges on assets (such as residential property) which would otherwise be payable to HMRC. Investment may be made in arm’s length trading vehicles. These must meet the following conditions. - They must be carrying on a trade, vocation or profession.
- The pension scheme, either alone, or together with associated persons does not have control (as defined in section 416 ICTA 1988) of the company.
- Neither the member nor a person connected (as defined in section 839 ICTA 1988) to a member is a controlling director of the vehicle or any other vehicle which holds an interest in the vehicle directly or indirectly.
- The pension scheme does not directly or indirectly hold an interest in the vehicle for the purpose of enabling a member, or person connected to a member, to occupy or use the property.
Full details of our policy on unquoted shares can be found here
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