Business owners and Company Directors and Family Business Trusts are a very effective way to minimise tax. Pension Tax relief still stands at £40,000 per year EACH and inheriting a pension trust can be tax free. Furthermore you have control of the investments - many people include commercial property in the SSAS and capital growth can be free from CGT - rental income and other profits can be free from tax too.
Inheritance tax, corporation tax, income tax and capital gains tax can cost a family a lot of money. When a business owning family considers how complex their family affairs are they often may put their heads in the sand and allow HMRC to collect a large proportion of their wealth.
Small Self-Administered Schemes
What is a SSAS?
- A SSAS (Small Self Administered Scheme) is a registered pension scheme and can have a single member or up to 11 members.
- It’s a pension fund that can improve cash flow by providing a loan back to your business
- It’s a planning tool to reduce Corporation Tax
- A home for investments that can grow free of UK Capital Gains Tax and Income Tax
- It’s a way to maximize the size of your Pension funds
Why do I need a SSAS?
- Because it can reduce your Corporation Tax liability
- Because you have multiple pensions you want to consolidate for easy administration
- It’s a fund for the future for you, your loved ones and your business partners with total access from age 55
- Because you want to explore a wide range of investment opportunities
- Because you want your investments to grow free of UK Capital Gains Tax and Income Tax
- Because you want to pass on your pension fund on death to your loved ones free of Inheritance Tax
- Effective way to create the retirement you’ve always wanted whilst offering intergral benefits to your business as you go
- It can fund your businesses growth and be a source of funding if your business needs a cash injection
How does it work?
- We would arrange for an appraisal of any existing schemes pension schemes
- We provide an annual administration service keeping you upto date with progress on your investments. We will liaise with the trustees of your SSAS and provide 6 or 12 monthly reporting and review for a fixed annual fee.