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A Small Self-Administered Scheme (SSAS) is a pension plan designed exclusively for company owners to provide the following benefits:
- Tax relief on contributions
- Tax free growth
- Zero Capital Gains Tax
- Zero Inheritance Tax
- Creditor protected assets
- Wide investment options including commercial property purchase
- Lend up to 50% of scheme assets to purchase commercial property
A SASS includes the option to pass on accumulated wealth to your next generation and enjoy flexible benefits at retirement.
Require support to set up a Self-Administered Scheme solution?
Talk to a member of the team about pension solutions on 01782 744144 or ask a question online.
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Pensions news and articles
Reforms to pensions proposed in order to drive growth
The Prime Minister and Chancellor met with business leaders last week and unveiled proposals to give occupational defined pension schemes more flexibility. Restrictions will be lifted on how well-funded, occupational defined benefit pension funds that are performing well will be able to invest their surplus funds. It is hoped that this will pave the way for future growth across the economy.
New digital service to check your State Pension forecast launched
A new digital service has been launched that makes it easier to check if you have any gaps in your National Insurance (NI) record that may affect your State Pension entitlement. The service is called Check Your State Pension forecast and can be accessed via GOV.UK or the HMRC app. You will need to register for or login to your Personal Tax Account to find the service.
Tapering of pension annual allowance
One welcome change, particularly among hospital consultants and GPs, is the increase in the threshold at which the pension annual allowance starts being tapered. From 2020/21 the adjusted income limit will increase from £150,000 to £240,000 which means that most
Pension Planning Before the End of the Tax Year
For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers both contributions by the individual and their employer. Note that the unused allowance for a particular tax year may
