Hi,
I couldn't find any specifics on this.
does anyone know after transferring UK pension funds to a smsf, it will be a QROP'ed fund, if these funds can be used to buy an IP.
So for example say i transfer 100k from uk to my SMSF can i use this as the deposit and borrow to buy an IP?
If i alreday have more funds in my SMSF does this just all go in one bucket and that could be used as deposits for buying IP's
I know that HMRC need reporting if paying out on monies transfered until age of 55 but what i want to now if there is any restriction on using this money as a deposit until that age.
any comments.
I couldn't find any specifics on this.
does anyone know after transferring UK pension funds to a smsf, it will be a QROP'ed fund, if these funds can be used to buy an IP.
So for example say i transfer 100k from uk to my SMSF can i use this as the deposit and borrow to buy an IP?
If i alreday have more funds in my SMSF does this just all go in one bucket and that could be used as deposits for buying IP's
I know that HMRC need reporting if paying out on monies transfered until age of 55 but what i want to now if there is any restriction on using this money as a deposit until that age.
any comments.