One hack that will transform your Limited Company this year is a SSAS pension. A SSAS is a Self-Administered Scheme created specifically for Limited Company Directors and their families.
The Benefits of a SSAS Pension
A SSAS pension is a business tool that could be extremely beneficial for your Company, yourself, and your family in the future. Here are just some of the ways a SSAS could transform your Limited Company in 2025.
SSAS Pension Tax Relief
If there are profits within your Company, one of the ways you can mitigate corporation tax is by paying into your SSAS Pension. The way it works is pretty simple; you open a SSAS pension and you make contributions to the SSAS from your Limited Company bank account.
The contributions you make from your Company account into the SSAS pension bank account are corporation tax deductible. So, let’s say you were to contribute the maximum amount of £60,000 you could save around £15,000 on corporation tax for this tax year.
Watch: How Do I Make SSAS Contributions?
Add Members to the SSAS
Another benefit of SSAS is that you’re able to add your spouse, partner, or children over the age of 18. Adding other members to the SSAS is particularly beneficial as they each get a maximum contribution allowance of £60,000 per year. So, with each new member you add to the SSAS you increase your contribution allowance by £60,000 which in turn increases the potential tax savings to be had.
SSAS is so much more than just a pension or business tool, it’s also an intergenerational wealth trust. A family trust. Within SSAS you’re able to grow your family assets and protect them.
SSAS Pension Investments
One of the main reasons Limited Company Directors will open a SSAS is so they can invest in a wide range of opportunities, from loan notes and bonds to gold and even crypto currencies. You can also invest your SSAS in commercial property, using the funds within the SSAS to make the purchase. There are lots of investment opportunities inside SSAS.
Open a SSAS with One Crown Pensions
SSAS really is a gift that keeps on giving. So, this year if you’re considering just one hack that will transform your Limited Company, look no further than SSAS. It saves you huge amounts in tax, it protects your assets against creditors, it provides an inheritance and a wealth trust for family members, and you can invest to your heart’s content.
Book a call with a member of our team to discuss opening a SSAS with us today. We’d love to connect with you. If you have further questions about SSAS, check out our SSAS Video Hub where we address all things SSAS-related.
