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» SSAS
SSAS

A Small Self Administered Scheme (SSAS) is essentially an occupational pension scheme that provides a means for directors of Private Limited Companies to maximise their retirement benefits while at the same time providing a tax efficient business solution.

The scheme can have a maximum of eleven members, with all members acting as Trustees. The assets of the scheme are not reserved for individual members, but are a pooled investment. In order to ensure there is no over funding, each scheme needs to be individually approved. As a consequence, it is imperative to seek professional and expert advice ehen planning and executing a SSAS.

SSAS arrangements are only available to Schedule E tax-payers and are primarily established to provide benefits for Directors of Private Limited companies. The tax benefits of SSAI's are as follows;

  • All contributions are deductible against pre-tax profits thereby reducing the company's liability to corporation tax.
  • Any personal contributions paid by members can be offset against their income tax at the member's highest marginal rate.
  • There is no no liability to UK capital gains tax.
  • Upon retirement a tax free lump sum will be available.
  • In the event of death prior to retirement all benefits will be payable without liability to inheritance tax.
For more information on investing in SSAS's and the tax benefits associated with this form of pension investment, contact us today on 028 9066 4278 for a free consultation.
Self Assessment Income Tax
The intricacies of preparing accounts can be complex and as a consequence, it is advisable to seek professional and accurate advice on the allowances, reliefs and expenditure that can credited against your self employed income.
Income, whether it is received through salary, business profits, share options or rental income, is subject to income tax. The amount of income tax due however can be reduced by offsetting available allowances and reliefs against these different forms of income.
» Self Assessment Tax Information » Income Tax Information

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Why The Opus Group for Tax Advice?

OPUS are the leading specialists in Tax Avoidance in Northern Ireland. We offer tax efficient investment schemes that are exclusive to our practice. The schemes we offer ensure that our clients are lessening their tax burden while at the same time availing of the opportunity of a rewarding and profitable investment.

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