| SSAS - Small Self Administered Schemes |
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MC Trustees are a small group of companies who have been administering Small Self Administered Schemes (SSAS) since 1986. A SSAS (Small Self Administered Scheme) is a company pension scheme where the members are Trustees and determine the investment policy. It is an occupational pension scheme established in accordance with the provisions of Chapter II Part IV of the Finance Act 2004. A SSAS is not regulated by the Financial Services Authority. SSAS are occupational schemes and are suitable for directors of private companies. They are most commonly used for family businesses. If you contact us by email, post or telephone we will send you a questionnaire to complete. When we have received this we will be able to advise you as to how you may proceed, Alternatively you can download the questionnaires here If you want to discuss or clarify anything please call Joy on 01675 444606 or email her at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it How do I put money into a SSAS? If you put the money in personally we reclaim 25 pence tax relief for each £1 that you contribute and add this to the fund. If you pay higher rate tax you can reclaim an additional 25 pence on your tax return. This will come to you personally. If the money is paid in by a company it is treated as a business expense when calculating corporation tax. There is no limit on the amount you may transfer in but the contribution limit is £255,000 for the 2010/11 tax year. You can invest in anything which does not bring you a personal benefit which would trigger a tax charge from HMRC; for example a residential property. The SSAS can lend money to the principal employer subject to conditions laid down in legislation. In essence these state that any loan must be on a capital and interest basis and be secured. For full details of the conditions see http://www.hmrc.gov.uk/manuals/rpsmmanual/rpsm07200080.htm. If you would like to talk to someone about investments please call Traci on 01675 444618, or email her at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Please see investments for more details. How do I get money out of a SSAS? You can take a tax free lump sum of up to 25% of your fund. You can draw a pension from your fund. You can buy an annuity to secure your pension. You can leave you fund to your dependants (subject to current tax laws). Our set up fee is £1,000 plus VAT Our basic annual fee is £588 plus VAT The annual fee permits the following investments:
It includes the following services:
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