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.

SSAS opportunities

SSASs are member-directed registered pension schemes and thus offer a wide range of permitted investment opportunities. In addition to those offered by Self Invested Personal Pensions (SIPPs), a SSAS can lend money to the sponsoring employer providing 5 key criteria are met:

  1. up to 50% of the fund can be loaned
  2. maximum term for the loan must be for no more than 5 years
  3. equal repayments of capital and interest monthly or quarterly
  4. minimum interest rate a scheme may charge is calculated at 1% above the average of the base lending rates of 6 leading high street banks
  5. the loan must be secured by a first charge on a suitable asset of at least the equivalent value to the loan plus interest.

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 (Denton & 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 lump sum 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
  • fees for administration of the SSAS can be paid by the sponsoring employer and it should be treated as a business expense.

Who can be a Member of the SSAS?

Every employee, ex-employee, officer or ex-officer of a sponsoring employer is eligible for membership of the scheme. A person eligible for membership of the scheme shall become a Member by invitation and on such terms as the Trustees shall decide.

SSAS administration

The day to day administration of the SSAS is delegated by the Trustees to Dentons who will normally carry out the following administration duties:

  • Report events online to HMRC e.g. the payment of certain lump sums, an unauthorised payment and the winding up of the SSAS.
  • Make returns of information to HMRC e.g. details of the SSAS investments held, acquired and sold during a tax year in the online Registered Pension Scheme Return.
  • Provide an annual statement and Statutory Money Purchase Illustration (SMPI) to Members.
  • Provide information to Members and others regarding the lump sum allowance, benefits and transfers.
  • Generally undertake such other tasks so as to maintain the beneficial tax status of the SSAS.

Why choose a small self administered scheme (SSAS)?

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Allows business owners and key employees to group pension assets for greater investment flexibility.

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Pooled investments from a wide range of assets for greater investment flexibility.

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Loan to the sponsoring employer (subject to certain conditions).

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Opportunity for Members to retain business assets through generations.

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Provides flexibility in relation to the investment of scheme funds and the provision of benefits to members and their beneficiaries.

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A flexible fee structure through fixed and time-costed fees – you only pay for the services you use; we do not charge based on a percentage of funds invested.

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.

SIPP testimonials.

On behalf of all SSAS members and especially myself, we wanted to extend our sincere thanks for your help with our project which has been completed in a ridiculously short time scale, only achieved by the dedication and professionalism of Dentons staff, especially Clare and Marc. S. Parkinson, Client Worcs
It’s taking me a while to get used to excellent service, which I haven’t experienced with other providers. Thank you. SSAS Client
Efficient, helpful and professional service, far better than that received from other SSAS providers. SSAS client, Surrey
We just wanted to drop you a note to say thank you to Marc and Barry for your help on our recent property deal and the work you have completed for our SSAS this year. A Happy Customer, Notts
DPMLs help with and expertise has certainly made the difference for my client. The ability to take on a specific transfer where other firms failed was a welcome relief and has provided a far greater degree of flexibility for the client's family than they thought possible. IFA, Louth
We are both very impressed with your service - it is not something we are used to! R Hall, Target Structural
I am very satisfied with the service from Dentons and have already recommended Dentons to a business acquaintance. J Crowder, Chillflow Solutions, Cornwall
I really liked the fact that I was dealing with a designated individual, as did the client. IFA, Haywards Heath
Efficient, helpful and professional service, far better than that received from other SSAS providers. SSAS Client, Surrey
Thank you so much for your hard work in getting things moving as quickly as possible. I really appreciate it. You made my life a lot easier. T Millward, Client
Thank you [David Holloway] for all your help in running our SSAS schemes over the past 12 months, you’ve been extremely diligent, helpful, efficient and a credit to Dentons.  These schemes have been so much easier to deal with having you as our dedicated administrator. Paraplanner, Salisbury
You are by far the most efficient SIPP/SSAS Provider of our acquaintance. IFA Oxford

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