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Transferring a property to a SSAS does not qualify for tax relief, but making a contribution of £200,000 in the form of a property worth £200,000 would be acceptable. HMRC see this as a three stage process:
- The contributor declares a monetary amount they wish to make as a contribution
- A legal, irrevocable debt is established which the contributor must settle
- The debt is settled by the in specie transfer
*There are administrative processes they have to be put in place to ensure they transfer is evidenced and accepted. These costs vary depending on the complexity of the case and are not included within the annual administration fee.