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| you are here : what I can do with my scheme? |
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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. |
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Where to invest
You can invest your money in anything you think fit, with three exceptions. You must not buy residential property in any form directly or indirectly, you must not invest in unquoted companies without checking things out with us first and you must not buy personals chattels. A full list on personal chattels can be found here |
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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. |
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Loans
A loan can be made from the SSAS, provided it is not to you or anyone connected to you. We will give you a loan agreement for this and will help you best structure this. |
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Borrowing
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. |
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Taking your money out
You can have a quarter of the fund tax free,from age 50/55 (depending on your current age) 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. |
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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. |
A final note……..
We are pension experts and come up with solutions to the most improbable situations, even ones involving residential property! Please ask us, it won’t even cost you the price of a phone call. |
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