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We can help you with a SSAS

A small self-administered scheme (SSAS) is an occupational pension scheme, which is a trust scheme for no more than 12 members. This type of scheme is for Company Directors (typically a family run business), where all members of the SSAS are personally related.

Interestingly there is no need for all members of the scheme to be employed by the same company, just as long as the SSAS was developed by a company to benefit at least one of its employees. In essence the Director of the company who has set-up the SSAS can enrol other members of their family no matter what the status of their employment is, they could be employed by another company, self-employed, a stay at home parent or even unemployed.

A SSAS will be set-up so that all members are trustees and every decision made on an investment has to be agreed individually by each trustee. The investment will be held in the name of all of the trustees, with no specific assets allocated to an individual member.

A key benefit is that when you invest in property ownership, it is much more straightforward and is not considered a joint ownership. This means there is only one registration and the legal costs are much lower.

All assets for the SSAS are held in trust, ensuring that they are fully protected from company and personal creditors. One of the key points to consider is that any property ownership held within the scheme can be leased back to a company, making it a very tax-efficient method for a company that is located on the premises.

If you have a question or need some advice in regard to a SSAS please feel free to call us on 01993 706403.