Ultimately Dentons' responsibility as professional trustee is to operate as co-trustee, joint scheme administrator and co-signatory. Dentons' will take on responsibility for HMRC reporting, benefit calculations, as well as conducting day to day administration tasks relating to the running of the scheme. All potential investments are screened by Dentons', in advance of being made. So that inadvertent breaches of HMRC rules do not occur and result in unwanted tax charges.

Pension legislation can be complicated, HMRC may levy tax charges if the trustees get things wrong, even inadvertently. These tax charges can be significant and may be levied on the members of the SSAS personally and the SSAS's sponsoring employer. 

As Dentons' acts as professional trustee, we are involved from the outset with various aspects, including contribution decisions, investment decisions and benefit payments. Therefore, we can highlight any potential issues and help the SSAS trustees avoid unnecessary tax penalties. For most SSASs, all trustee decisions must be made unanimously, including the professional trustee, before they are acted on by the Scheme Administrator.

We are not financial advisers and so do not give financial advice. Dentons'  works alongside financial advisers to help our mutual SSAS clients achieve their retirement planning goals through the use of the Dentons SSAS.
Providing clarity to avoid unnecessary tax charges

As part of acting as Professional Trustee and Scheme Administrator Dentons' acts as a co-signatory to the trustees' bank account, signing all bank instructions alongside the member trustees.

This guarantees that all payments made by the SSAS will avoid any connected party transactions. Also that the SSAS does not purchase anything that could be deemed by HMRC to warrant tax penalty.


Other responsibilities of a professional trustee

As a professional trustee, we also work as the Scheme Administrator, whose role is to: 
  • register the scheme with HM Revenue & Customs (HMRC)
  • report events relating to the scheme and the Scheme Administrator to HMRC › make returns of information to HMRC 
  • provide information to Scheme Members and others regarding the lifetime allowance, benefits and transfers 
  • generally, undertake such other tasks to maintain the beneficial tax status of the SSAS.


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