Tax-efficiency

Small-Self Administered Schemes (SSAS) are extremely tax-efficient

• Contributions made by the sponsoring employer to the scheme usually qualify for Corporation Tax relief
• Within certain limits, personal contributions made to the SSAS will also qualify for tax relief
• With the exception of dividend income, the SSAS does not pay Income Tax or Capital Gains Tax on the assets it holds

If the SSAS owns a property:

• No tax is payable on the rental income received
• The tenant, which may be the sponsoring employer, can offset the rent paid against Corporation Tax

Furthermore:

• A tax-free lump sum is available when members retire
• On death, the benefits payable are also extremely tax-efficient

The tax-efficient nature of SSASs is one of the key reasons why they are popular among business owners.

If you would like to learn more about how a SSAS can benefit you and your business, please get in touch by completing the form below or calling us on 0800 612 6644.