Sipp in Spain

PropertyInSpain.Net has just launched a new Spanish Sipp tax shelter called Libertad,

Libertad tax break buying comes with a co-ownership option for families and friends to buy the freehold between them and share the costs, delights of regular holidays in the sun and the rental income when they can't be there to use it themselves. It's not like timeshare or holiday bond homes as everybody owns the fully notarized and registered freehold.

The prices above are per person, based on three families or friends buying together. That's called a Libertad 3 but two couples can buy together or workmates. They need only around £10,000 in cash each to get on the sunbelt property owning ladder because Spanish banks have set up in London to provide 48-hour pre-mortgage offers on a low interest 70 % mortgage - less risk if three or four people are sharing the buying costs.

Libertad is 100 per cent legal under Spanish and EU law because it outlaws "black money", shady deals and makes it easy for all the owners to pay any taxes due in spain. Like all Spanish natives they get a personal gestoria to deal with the town hall, utilities and Spanish tax man to make sure they claim back all the tax breaks they are entitled to and pay over what's due when it's due.

An individual family can still buy a Libertad home and benefit from the tax breaks - 20 per cent off capital gains tax for a start and no inheritance tax - and choose from 11,000 new, offplan and resale homes across 10 Costas plus Spanish islands, Lanzarote, Ibiza and Mallorca.

Domingo Diaz Carrillo, Jefe de Departamento of Caja Murcia bank, said: "As PropertyInSpain.Net already manage our online network of 840 property outlets in

Spain. we are natural partners in the Libertad programme because we can bring blue chip, fully legal developments in which the bank has invested and provide mortgages to UK and European buyers looking for a tax efficient route to have a bit of sun.

Other Libertad partners include Travelex and Halo Financial providing low cost currency, Solbank/Banco Sabadell, CAM Bank and Spain’s biggest bankers , La Caixa, leading Spanish insurers Ocasa and Siemens Smart Homes for remote security and control.

It is best to wait for clarification on A day to double check Gordon does not close this loophole.