SSAS

Since the major reforms came in, back in 2006, some of the attractive facilities of the Small Self Administered Scheme have been limited such as the securitisation of loan assets but they still offer employers not only a very efficient pension scheme but also a very useful business tool.

They are ideally suited to small limited companies where the members are usually the controlling Directors of the business and where family businesses want to be passed on to the next generation in a tax efficient way.

Not only can substantial amounts of tax be saved through payments into a pension scheme but imagine a way of protecting a substantial part of your company against creditors in case the worst happened and the business failed and having access to an account where you didn’t need to ask your bank manager ‘s permission for a business loan!

Because the members of the scheme, normally the controlling Directors of the company, are usually also the trustees, they are the ones whose pension fund is going to be directly affected by any investment decisions made and this is important as the investment assets of this type of scheme can often involve large exposure to the business itself and not be as diverse as other schemes.

Assets owned by the scheme are not “earmarked” for each individual member and this again can give great flexibility to the trustees when it comes to investing the funds.

Commercial Property purchase is a very common benefit of a SSAS, where the scheme either buys (or borrows the money to buy) the unit and then collects rent from the company. As the property is owned by the pension fund once any loan has been paid off, it is safe from any creditors should the business fail.

How many times do people say, “My business is my pension”. With a SSAS, this can make it happen.

When it comes to setting up and running a Small Self Administered Scheme, there are many areas that you may benefit from our expert advice such as:-

General Tax Planning for the company and determining contribution levels
Investment Advice for the scheme assets
Advice on Property purchase and choice of lender
Advice on loans back to the company
Assistance on trustee meetings

A pension is a long term investment. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.
The value of investments can fall as well as rise. You may not receive the original amount invested.
Tax Planning is not regulated by the Financial Services Authority.

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