What is a SSAS pension?
A Small Self Administered Scheme is a pension set up by a limited company for the benefit of its directors and beneficiaries.
As the members are also the trustees, they control investment policy and how the scheme should run.
The benefits of a SSAS pension:
A SSAS is registered with HMRC and there are valuable tax benefits given including the following:
- Assets grow free of Capital Gains Tax
- Your fund on death can be passed down to your family free of Inheritance Tax
- A company can contribute up to £500,000 from its profits and mitigate corporation tax in the year of contribution
- You as a Member and Trustee have more freedom to direct the investments of the scheme and have control of the scheme bank account ( you are in control we help you find a solution)
- Loans to your limited company can be provided from your funds (within certain limits)
- Loans to a third party
- Ability to take advantage of the new pension freedom rules introduced 2015/16