Why choose a SSAS?

A SSAS can provide financial flexibility for a business. For example, in line with HMRC rules, the SSAS can make a loan to the sponsoring employer or purchase commercial property to lease back to the sponsoring employer at an open market rent.

Under current legislation a SSAS enjoys considerable tax benefits:

  • Employers’ and Employees’ contributions normally qualify for tax relief in the year they are made
  • Investments (other than dividend income) are generally exempt from UK Income Tax and Capital Gains Tax (CGT)
  • Lump sum benefits on death will normally be free from Inheritance Tax
  • On retirement, a tax free lump sum of up to 25% of the fund can be drawn down (limited to 25% of the Lifetime Allowance), unless the lump sum is “protected”.

Contact us for more about SSAS.

0 comments on “Why choose a SSAS?
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  • Mr M.P.On retirement, I had a mixture of personal pensions, the remains of a final salary pension scheme and a pension fund pot from a Group Money Purchase Scheme. I was uncertain as to what I needed to do and how to go about doing it, which led me to turn PML for honest advice and guidance. PML sorted out my complex pension arrangements.
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