Small Self-Administered SchemesA Small Self-Administered Scheme (SSAS) is an occupational pension scheme that does not have the involvement of a life assurance company but where the assets are invested and managed by the scheme trustees, an internal investment manager or an external investment manager. SSASs historically have proven popular because of the investment powers and greater control they conferred on the members. Consequently HM Revenue & Customs has imposed tighter control on their operation than on other types of scheme. Since April 6, 2006 following the implementation of tax simplification measures most if not all of the special features of SSASs have been removed. For a scheme to qualify as a SSAS there must be fewer than 12 members currently building up pension benefits at least one of whom must be a controlling director. |
| The articles featured in this digital magazine are for your general information and use only and are not intended to address your particular requirements. They should not be relied upon in their entirety. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. For more information please visit www.goldminepublishing.com |