Diamonds could lose their sparkle in a Sipp

Being able to get tax breaks to buy a racehorse might sound thrilling, but, as with most Government innovations, the devil is in the detail.

Being able to get tax breaks to buy a racehorse might sound thrilling, says Emma Simon in The Daily Telegraph, but, as with most Government innovations, the devil is in the detail.

As of 6 April next year, in theory at least, the restrictions on what can be held in a pension will vanish. However, holding alternative investments within a Sipp is unlikely to prove very straightforward, and while HM Revenue & Customs hasn't yet clarified the rules, it has already confirmed some restrictions that could land you with a nasty tax bill.

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Emily Hohler
Politics editor

Emily has worked as a journalist for more than thirty years and was formerly Assistant Editor of MoneyWeek, which she helped launch in 2000. Prior to this, she was Deputy Features Editor of The Times and a Commissioning Editor for The Independent on Sunday and The Daily Telegraph. She has written for most of the national newspapers including The Times, the Daily and Sunday Telegraph, The Evening Standard and The Daily Mail, She interviewed celebrities weekly for The Sunday Telegraph and wrote a regular column for The Evening Standard. As Political Editor of MoneyWeek, Emily has covered subjects from Brexit to the Gaza war.

Aside from her writing, Emily trained as Nutritional Therapist following her son's diagnosis with Type 1 diabetes in 2011 and now works as a practitioner for Nature Doc, offering one-to-one consultations and running workshops in Oxfordshire.