I am in an employers occupational pension scheme.
Separately I have a rental property. Can I set up a separate personal pension and use it buy and hold the property. Advantage would be that the payments I am contributing to pay the property mortgage would be tax deductible. Any downsides? Thanks.
On another point, if you are a member of an occupational pension scheme, you cannot contribute to a personal pension and claim tax relief on these premiums...unless you have another source of income and have exhausted the tax relief available under the occupational pension scheme.
Thanks for the response. Need to do more research.I'm not sure. Any pensioneer trustee would ask why you'd want to buy an apartment in Spain, it has "personal use" written all over it. Then there is the different tax laws. Do they recognise the tax free nature on rental income into a pension scheme or will they charge tax on any rental income. It would be incredibly difficult to manage, so would a pensioneer trustee even take it on?
She can buy a property before she retires but she can't carry debt from a pre retirement product into a post retirement product.
Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
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