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January 2015 - Even nicer ISAs
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Small Self Administered Schemes

SSASs are special types of occupational pension schemes for up to 11 members, usually controlling directors of small companies. One or more of the members must be connected which means that often SSASs have typically 2 or 3 members and are family operated companies.SSASs are administered by a trustee and there is no necessity to invest in a conventional way via an insurance company, as the investments are held in the name of and managed by, the trustees.

The main attraction of a SSAS compared with an insured scheme are the investment opportunities such as commercial property available to the trustees. There is also the power to make loans to the directors' own company and to borrow. The SSAS is also protected from creditors.Company contributions are regarded as an allowable expense for corporation tax purposes while directors' contributions qualify for income tax relief normally at their highest rate.

For family businesses a well managed SSAS can help with Inheritance Tax planning.It can enable a retiring older generation to leave the business without imposing a cash flow problem on the younger generation, or being forced to sell to an outsider to raise money for retirement.

SSAS's are complex investments and are subject to strict rules.We believe that our experience in the pension market would assist you in making the correct decision in terms of deciding if a SSAS is a suitable retirement planning vehicle.

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