SASS

A Small Self-Administered Scheme (SASS) is a company scheme where its members are usually directors of the company or key staff.

The range of investments includes:

  • Unit trusts and managed funds.
  • Shares of public companies listed on a recognized stock exchange, inc share options and futures.
  • Unquoted shares (including the shares of one's own company, subject to certain limits).
  • Gilts and government bonds.
  • Bank and building society deposit accounts.
  • Loans, including loans to the parent company and associated companies
  • Commercial property.

A SSAS can be very advantageous as it allows for the individual/s to:

  • Save the business Corporation Tax.
  • Keep control of their own assets at all times.
  • Preserve their pension fund from annuity on retirement.
  • Have investment freedom.
  • Use loanbacks as a way of financing corporate activities.
  • Invest in commercial property, securing company premises from debtors, allowing tax-free rental collections and ring-fencing from Capital Gains Tax.
  • Various tax advantages.

Full advice will be provided on the above. Contact our wealth management team to find out more.

SPECIALIST AREAS

Mitchells Wealth Management is a trading name of Mitchell's (Leeds) Ltd who are Authorised and regulated by the Financial Services Authority. Registered in England and Wales No. 05815942.

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