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imagesCAX34LB7Investing by SIPP and SSAS

 What are they?

A SIPP is a self invested personal pension and a SSAS is small self administered scheme.

Why are they of interest?

They provide for some a tax efficent way of investing.

Why look at investing by way of a SIPP or a SSAS

– growth is free from CGT

– tax relief at the individual or company’s highest rate

– rental income received by a pension scheme attracts no UK income tax

– on retirement 25% of the pension fund can be paid as a tax free lump sum

– on death before retirement the whole payment under the pension fund could be paid as a tax free lump sum i.e. no inheritance tax

The difference between a SIPP and a SSAS

SSAS

small occupational pension scheme set up by the directors

– members are usually employees or directors of the employer

– each member has a a notional share of the SSAS funds

– more flexible on investment

– can lend to the company

SIPP

SIPP is a personal pensions set up by an insurance company or specialist SIPP operator.

– open to anyone

– usually a minimum fund size

-There are usually higher running cost

 

Christie Limb

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