Monday, 6 April 2015
SSAS and SIPP - BEWARE
Crowdproperty.com have sent us two emails about their new crowdfunding property investment business. We came across this company when they pitched for funding on Bank to the Future - alarm bells ringing already.
The first email started out - ''Did you know that if you made your money work at 10% you would double your money in less than 7.5 years and quadruple in fewer than 15?''
In fact most people will realise that to double your money at 10% it will take 10 years at a flat rate return. They offer a flat rate return. Quadrupling it would take 40 years and so on.
The latest sales pitch email arrived a few days ago. Now they are claiming - '' CrowdProperty has also been approved for SIPP & SSAS pension investments. If you would like to know more about this please visit us at www.crowdproperty.com and fill in the form on the pensions page to receive further information on how.''
Their website has no such approval and an email asking them to confirm just how they have this approval has gone unanswered. Our research shows that all but commercial property is liable to heavy taxation if put through either scheme.
So please, be careful out their.