Friday, 28th July 2006 (3423 views)

The UK government has included investment gold as an option in Self Improved Pension Plans.

Sipps have been created by the government in response to growing concern over the amount of money people are saving for their retirement. The scheme allows individuals who pay income tax in the UK to invest capital from their Sipp on commodities of their choice.

These investments are then topped up in the form of tax relief, meaning individuals can claim up to 40 per cent back depending on the income tax band they fall in to.

Gold is increasingly gaining the status of a secure alternative investment and it has nearly doubled in value compared to sterling over the last six years.

UK Sipp investors are able to learn about the benefits and best methods of investing in gold through the government Sipp website, which was launched earlier this year.

 

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