We advise businesses on a range of issues including Workplace and Group Personal Pension arrangements, Keyman and Shareholder Protection (see separate page). We also have a number of business owners that require specific advice regarding Small Self Adminstered Pension Schemes (SSAS) and Self Invested Personal Pensions (SIPPs.)
We regard SSAS as one of the most flexible pension arrangements for small businesses. Typically, charges for the use of a professional trustee make these types of scheme very competitive. The purpose of a SSAS is to provide a way of retirement planning that gives the business owner control of their investment strategy. In doing so it can have the dual effect of both helping the business grow and boosting pension funds in a tax efficient way. For example, the pension scheme (SSAS) can lend the business money on commercial terms to expand. The business must repay the loan with interest but of course the interest benefits the pension scheme. Similarly, the SSAS can buy commercial property for the business to trade from. Again, on commercial terms the business must pay rent but instead of the rent being 'lost' to a third party landlord, in future the pension (SSAS) will benefit. We always recommend the use of a professional trustee to manage the SSAS on your behalf to ensure that HMRC requirements are strictly followed. For more information on how a SSAS could benefit you please contact us for more information.