SSAS - Starting Out
SSASs are complex pension arrangements and tend to be costly to run. Before considering whether a SSAS is an appropriate pension arrangement obviously clear reasons need to exist for going down this route and the eligibility to create a SSAS.
- What help will I need to start a SSAS?
Insurance companies, pension consultants and fund managers run SSASs. You would need specialist advice on the setting up of the SSAS, which would typically be provided by a firm of pension consultants or perhaps an insurance company, with the investment undertaken by a fund management organisation.
- Why can’t my company simply set up a SSAS itself?
In order to qualify for the tax relief from HMRC, an authorised provider must be used.
- How much can I pay into a SSAS?
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The maximum contribution that attracts tax relief for someone with earnings is the lower of £235,000 and 100% of earnings in each tax year.
Q & As
