The week before the end of the tax year saw a huge influx in transfers of commercial property into Sipps as investors sought to take advantage of existing taper relief before it was scrapped on April 6.

Prior to this, capital gains tax (CGT) on sales of assets such as commercial property was as low as 10 per cent if the assets were held for more than two years. Suffolk Life, a Sipp provider, reported seven times as many property completions in the two weeks to the end of the tax year, saying the tax changes were directly responsible.