In this episode, Shaz looks at how a small self-administered scheme (SSAS) works and explains some of the ways it can be used

This is a great opportunity to understand more about what a SSAS is and hear about some of the different ways and times you can pay into it and how it can be used within your business and for legacy planning

 

KEY TAKEAWAYS

A SSAS is a small self-administered scheme and can give you more flexibility

Every year you can transfer £40,000 into your SSAS if in previous years you haven’t been able to make the contribution you carry forward the last 3 years

You can transfer from a SSAS into a SSAS if it's beneficial

If there are two of you it’s possible to make a contribution of £500,000 in one year into your general fund

You can ask HMRC about making a contribution of up to 2 million pounds

The maximum number of people you can have in a SSAS is eleven

You can loan up to 50% of the fund

The SSAS doesn’t pay tax so there are no capital allowances available

You can have legacy planning and leave the SSAS to others

 

BEST MOMENTS

‘If you have several small pensions hanging around you can put them into a SSAS’

‘A SSAS enables you to move money from your limited company into your SSAS’

‘Two or more people open up more possibilities in terms of contributions’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

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