Tax escape pleases equity release sector.

From: Financial Adviser | Date: November 18, 2004 | Copyright information

The equity release industry has welcomed confirmation that genuine reversion schemes will escape pre-owned asset tax.

But tax experts say government intentions must be reflected in the wording of the legislation.

Paymaster general Dawn Primarolo, responding to a parliamentary question on the impact of the taxation of pre-owned assets on equity release schemes, reassured the industry last week that genuine schemes would not be caught by changes made in the Fina...

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