2 October 2007 - GoldMoney today announced that there is now a new and tax efficient way for UK customers to hold their gold.
GoldMoney has worked with its UK partner, Berkeley Burke & Co Ltd, to create a Self Invested Personal Pension ('SIPP') which is designed especially for holding gold.
This new SIPP product is designed to work seamlessly with GoldMoney's facilities for dealing in and holding gold. One of the key features is that customers will be able to transfer existing holdings of gold at GoldMoney into the SIPP by way of an in-specie transfer, subject to having sufficient UK taxable earnings. Customers can then buy more gold with the tax that Berkeley Burke can reclaim on the value of the in-specie transfer at either 22% or 40%, depending on each customer's personal circumstances. This is an exclusive arrangement between GoldMoney and Berkeley Burke & Co Ltd.
James Turk, founder of GoldMoney explained: 'We know that our customers like the ease with which they can purchase and hold gold at low cost, which we then store for them in secure, allocated storage. Now our customers in the UK can take advantage of these features in their SIPP.'
Gareth Roberts, Business Development Director of Berkeley Burke, added: 'This new product offers a tax efficient way to own and hold gold. Customers based in the UK can buy more gold with the tax that can be reclaimed on contributions into their personal pensions, depending on their personal circumstances.'
More information about this new SIPP product is available at: gold-sipp.html
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For information about Berkeley Burke & Co Ltd contact:
Berkeley Burke & Co Ltd