What is a SSAS?

A small self administered scheme or SSAS is a bespoke occupational pension scheme created specifically for an employer. It gives its Members considerable flexibility and control over the investment policy and underlying assets. To ensure a SSAS qualifies for various legislative exemptions and has as much investment flexibility as possible, it can have no more than 11 Members, each of whom is a Trustee and all their decisions are by unanimous agreement. Although there is no lower or upper age limit for Members, there is a minimum age of 18 in order for the Member to act as a Trustee.

Dentons SSAS structure.

With its intelligent structure, our SSAS offering is designed to provide greater flexibility in investment opportunities and expert support. We can even take care of all the necessary paperwork to establish or takeover the SSAS, register the scheme with HM Revenue & Customs (HMRC) and set up the initial bank account.

For our SSAS, Dentons trustee company (Dentons & Co Trustees Limited) will fulfil the role of Scheme Administrator, as required by HMRC to:

  • register the SSAS with HMRC.
  • report events relating to the SSAS and the Scheme Administrator to HMRC.
  • make returns of information to HMRC.
  • provide information to the SSAS Members, and others, regarding the lifetime allowance, benefits and transfers.

Tax benefits.

Under current legislation a SSAS enjoys considerable tax benefits: 

  • employer and Member contributions normally qualify for tax relief subject to certain requirements
  • investment income and gains (other than dividend income) are generally exempt from UK income tax and capital gains tax (CGT)
  • lump sum benefits on a Member's death will typically be free from inheritance tax
  • when taking benefits, a tax-free lump sum of up to 25% of the Member's share of the SSAS fund is ordinarily available, subject to the Member's remaining lifetime allowance. In some cases this could be more than 25% of the fund/lifetime allowance depending on individual circumstances
  • fees for administration of the SSAS can be paid by the sponsoring employer and it should be treated as a business expense.

Apply for a Dentons SSAS.

A SSAS will require a package of bespoke paperwork to be produced, and the work involved overall in a SSAS is reflected in our fees.

SSAS investments.

The Dentons SSAS makes it easy for Members to take advantage of a wide range of investment opportunities, and the Trustees have considerable control over how funds are invested. It is the responsibility of all Trustees to ensure that all SSAS funds are invested in the best interests of all Members.

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