At Expert Pension Claims we are at the forefront of providing legal support for UK residents who have been mis-represented by their financial advisors, including helping people to recover compensation for SIPPs mis-selling claims.

We also like to keep a close eye on what’s happening in the pension industry, as any new governmental legislation will typically have an impact on how we work, so it was interesting this week to see how the industry responded to the chancellor’s proposed reforms of property stamp duty.

Self-invested personal pension (SIPP) providers have welcomed the Chancellor’s move to reform stamp duty on commercial properties.

George Osborne used his eighth Budget speech to state commercial stamp duty would be 0% on purchases up to £150,000, 2% on the next £100,000 and 5% above £250,000.

There will be a new 2% rate for high-value leases with net present value above £5m.

The changes are effective from tonight.