"Our family have held a SSAS with Garrabost Trustees for well over 10 years. Over that time it has proven to be a great tool in providing security for our future retirement whilst mitigating our company's tax liability. I find the control and flexibility you enjoy over any investment strategy to be the most pleasing aspect of the scheme.
We have invested in our business premises & investment bonds and have taken advantage of the company loan back facility"
Set up and establish small self administered pension schemes
Report events associated with the scheme to HMRC, and file all necessary paperwork
Guide and explain information to scheme members regarding allowances, the lifetime allowance, benefits and transfers
Register schemes with HMRC and The Pensions Regulator
Complete required returns for HMRC and The Pensions Regulator
Work closely with your advisers in order to mitigate tax liabilities and enable positive strategic planning
WHAT IS A SSAS?
A Small Self Administered Pension Scheme (SSAS) is a pension scheme that is established under Trust by an employer, usually a limited company. A SSAS provides a means of pension saving that runs alongside a business and allows for investment decisions to be made by the business owners who are also the scheme Trustees and Members. Scheme members are not limited to the business owners, with senior employees or family members also able to join.
Our role within a SSAS is that of the Professional Trustee and Administrator. We provide support by assisting with the management and administration of the scheme. This includes annual filing with HMRC and The Pensions Regulator (where appropriate) and allowing for seamless transactions, all the while ensuring that the activity of the SSAS operates within HMRC parameters.
Garrabost Trustees have been acting as Professional Trustee and Administrators, advising Small Self Administered Pension Schemes for over 30 years. We believe that understanding the clients’ needs and challenges is our highest priority, and we ensure that your pension works in harmony with your business. We tailor our services appropriately and help you create new opportunities.
Utilise the fund to make capital available to the associated business
Any increase in value of property owned by the scheme is free from Capital Gains Tax
The fund is outside of the Members estate for Inheritance Tax purposes
As Trustees of the scheme you control how the fund is invested
Provide pension benefits for your retirement
Create new opportunities for your business
Rent premises to the associated business and receive tax relief
Associated business can pay the administration costs of a SSAS as a deductible expense
25% or more of the fund value can be taken as a tax free lump sum from the age of 55 (or earlier in special circumstances)
The assets can remain intact within the SSAS and passed down to your children
Tel: 01874 615015
Tom attended Aberystwyth University studying physics before graduating in 2012. Since then, Tom has over 8 years’ experience working in the financial services industry first working for Lloyds Bank before making the move to pensions and working at Alltrust and James Hay.
Tom has specialised in the SSAS sector where he has held senior roles working on the administration of SIPP and SSAS schemes with Alltrust before moving to James Hay to work in a senior role as part of a project reviewing SSAS’s and address a range of complex issues which arose. Tom is currently working towards his level 4 qualification with CII.
In his spare time Tom enjoys playing football and golf, as well as walking across all the idyllic mountains which Wales has to offer. He is also a keen baker and has recently started making his own ice cream to accompany his cakes.