SSAS Introducer Hub: How Could a SSAS Pension Benefit My Clients?
If you work in finance, SSAS could be the solution your clients need. Here at One Crown Pensions, we’re on a mission to make SSAS simple and easy to understand because we believe it really is the best kept secret in British finance and so many people could benefit.
Here’s how your clients could benefit from opening a SSAS pension scheme:
SSAS Tax Relief Benefits
With a SSAS you are able to make significant savings on tax, specifically:
- Capital gains tax
- Corporation tax
- Income tax
What’s more, assets held within a SSAS are protected from creditors, which is a nice byproduct of SSAS.
Discover SSAS tax relief benefits.
Corporation Tax Relief Benefits: An Example
Corporation tax relief can be extremely beneficial for your clients. At the time of writing this, the maximum contribution allowance into SSAS is £60,000 per tax year. Normally, your client would be charged £15,000 in corporation tax for a contribution of this size. However, within a SSAS there is no corporation tax. Therefore, they could be saving up to £15,000 in corporation tax every year should they make the maximum contribution.
Furthermore, if a person had other Members within their SSAS, such as another Director or their spouse or partner, they would be able to contribute £60,000 each into the SSAS. This doubles the contribution amount and, as a result, the corporation tax savings too.
SSAS Pension Commercial Property Benefits
SSAS is able to hold commercial property. This is a very popular thing. We get more enquiries for this than just about anything else.
Naturally, there will be many of your clients who already have and hold commercial property within their companies. Having the SSAS purchase that commercial property has huge benefits tax wise.
Not to mention that, if your client’s Company is the property tenant, it’s the Company that pays rent into the SSAS. This means the Company is paying into the pension on a monthly basis, (tax deductible), with your SSAS receiving the rent tax free. This allows for significant tax savings.
SSAS Allows Members to Pool Their Funds
This is where things get really interesting. Your client’s SSAS may have a couple of Members (it’s allowed up to 11 Members, in fact). Each of those Members may have transferred their existing UK pensions into the SSAS.
This means the value that each of these pensions may have amassed over many years will be fed into the SSAS, helping to build a super pension.
Your client can then utilise the power of these funds to do things such as, invest in commercial property, build an intergenerational wealth fund, and protect their assets for the long-term.
Become a SSAS Introducer with One Crown Pensions
As you can see, SSAS offers substantial benefits to your clients, providing them with much-needed financial security and allowing them to grow their wealth in a tax-efficient environment.
Become a SSAS Introducer with One Crown pensions and connect your clients with our SSAS expertise. Contact us to find out more.
