Hi and welcome to the forum
When you say white, is it white with a greyish tinge to it and a pungent odour of diesel? More like a paraffin smell?
Whilst I have no great knowledge of the HDi specifically, plumes of white/grey smoke with poor or no throttle response in a diesel engine suggests fuel is flowing through the engine largely unburned which suggests a lack of compression.
What does it sound like when it is smoking? does it sound like a normal idle, or is it very quiet or knocking perhaps?
If indeed this is unburned fuel, there are two potential causes, either a valve (or valves) are sticking a little open occasionally, a piston ring seal is failing or a sensor is giving wrong information to the ECU and upsetting the timing so that fuel is injected at the wrong time. That would account for its inability to rev.
The only problem with that line of thinking is that in both cases, the engine should be hard to start. Do you see the engine management light come on during the smoking.
If the vehicle was standing idle a long time at the dealers before you bought it, sticking valves may still be a possibility. Was the vehicle serviced before you acquired it? If not and if it spent time idle, I'd be inclined to give it an oil change initially and see if that resolves the issue. Certainly if it is caused by sticky valves or piston rings, fresh oil will help in unsticking them, as will a good, long drive to really warm and exercise the engine.
Sorry for asking more questions than answers
