- Request a call back
- Setting it Up
We will send to you the paperwork to set up your SSAS. These will be signed by your business, plus the member trustees. We will include a bank account opening form.
- Tax Registration
We will undertake an identity and money laundering check and subject to that clearance plus receipt of the set up documents your pension scheme will be tax registered with HMRC, the Pensions Regulator (if appropriate) and a bank account opened.
- Paying into it
You can pay money from your business, personally or a third party can pay into your SSAS. You will get tax relief on those payments, the amount of relief will vary but we can work this out for you. Subject to financial advice you can transfer money from most other pensions to your SSAS.
We make no transaction charges, this helps you keep your costs down. You can appoint any regulated firm you choose to assist with investing, you can use direct product providers. You can make loans to your business and purchase any investment appropriate to your pension scheme, this can include land and property, even forestry! It cannot include most forms of residential property, wasting assets or tangibles such as fine art, wines and antiques.
Our comprehensive investment list and welcome pack contains all the information you need.
The SSAS can borrow or take a mortgage to buy things, for example your SSAS could buy a shop and the pension scheme takes on the mortgage if you do not have sufficient money in your SSAS to purchase that shop. We can help you structure this most tax efficiently.
- Taking your money out
You can have a quarter of the fund tax free, the rest you can take as an income from the scheme. We will work this out for you. You will have a lifetime allowance on your overall pension fund, but we will monitor to make sure that this is not exceeded.
- Opening a bank account
You can open a bank account with whoever you like, but we have a special arrangement with Bank of Scotland which is quick and easy. Yes, the signatory can be solely you.
- Dealing with your scheme
Your SSAS can sell/buy assets from you or a third party, such as your business on arms length terms. We can show you how to do this tax efficiently.
A final note……..
We undertake all the administration and tax compliance for your scheme. You and any regulated advisors you appoint will invest and make money for your SSAS.
We are on free phone 0800 634 4862 and are there to help you every step of the way.