Home›FAQ›Who is suited to a SSAS and what is the difference between a SSAS and a SIPP?
Who is suited to a SSAS and what is the difference between a SSAS and a SIPP?
SSAS are suited to either an individual or a group of individuals who run a common business and wish to have complete control over their pension fund. For a group, the costs per member are usually lower than using individual SIPPs to pool funds to purchase commercial property.
Unlike a SSAS a SIPP member does not have any ability to grant a loan to a connected party, neither may they normally pool their investment interest and holdings. For these reasons a SSAS is normally favoured by members who are happy to have and can share a common interest and the incumbent responsibilities.
There is no requirement for a professional to be appointed to a SSAS, however the rules are complex and may well prove difficult for individuals without experience of running a SSAS.
SSAS and Legal Entity IdentifiersWhat are Legal Entity Identifiers and Does Your SSAS Need One?
From 3rd January 2018 it will be a requirement for legal entities and structures to obtain a reference called a Legal Entity Identifier (LEI) from the London Stock Exchange in order for the trustees of a SSAS to carry on investing. This» Read More
Setting up a SSAS (Small Self Administered Scheme) to buy commercial propertyOur Client wanted to sell his business premises
One of our existing SSAS (Small Self Administered Scheme) Clients had put the premises which his Company traded from on the market. The premises were owned by his SSAS and the objective of the sale was to release funds so that he could» Read More
