We act as a professional trustee of our SSASs to ensure the scheme is kept compliant with tax legislation and our co-trustees are kept informed of latest developments. As part of this service, we provide scheme administration including dealing with regulatory returns as well as member and investment transactions.
With over 2,170 current clients, we have built up a huge amount of experience in dealing with these schemes and the variety of investments that are held within them. Our clients own over 2,750 commercial properties within their portfolios and every year we agree to around 80 loans back to a business owner’s company.
Our SSAS clients include:
For some clients, we simply act as scheme practitioner, essentially being an appointed agent to act for the trustees to submit regulatory returns. We are happy to provide consultancy advice to trustees, noticeably where there has been an issue with non-compliance with rules in the past. We no longer set up schemes unless we are appointed as professional trustee given the new HMRC requirement that essentially means there needs to be a skilled pension person associated with the scheme.
We have been awarded a 'silver’ rating by independent assessor Investor in Customers - awarded as a result of an independent assessment of excellence in the field of customer service and customer relationships.
When it comes to buying property in your SSAS or SIPP, you need both knowledge and wisdom, especially where there is the possibility that the property could be deemed by HM Revenue & Customs (HMRC) to be residential property.
The UK is experiencing an ageing population, with issues of health and government legislation relentlessly adding to the complexity of pensions.
Divorce is simultaneously costly and stressful. Although an evaluation of your and your spouses pension savings held in SSAS could save both stress and costs as matters proceed.
We now have a plethora of lifetime allowance (LTA) protection regimes. These have effective dates falling in either 2006, 2012, 2014 or 2016 - the years in which the LTA was either first introduced, or subsequently reduced.
There have been substantial recent changes in pensions legislation affecting high-earners. As a result, senior university staff may now face tax charges on their ongoing pension savings.
NHS staff are now facing tax charges on their ongoing pension savings. Barnett Waddingham provides a bespoke and specialised service designed to meet the pension requirements for NHS employees.
While a dearth of pension changes in the October 2018 Budget is generally a welcome thing, our Pensions Technical Specialist James Jones-Tinsley looks at key issues the Chancellor won’t be able to keep dodging and explains why they matter to financial advisers and their clients.
The tax year end is the time when most people examine their personal and company finances. To help professional advisers be ready for client questions at a time when every minute counts and we’re hosting a live webinar with a strong technical focus.
A short round-up of topical matters regarding pensions; particularly given the political and economic backdrop arising from the General Election result, and the start of the Brexit negotiations.
One of the important things to remember with drawdown is that your pension fund may be tested more than once against the lifetime allowance (LTA): once when you go into drawdown and again when you reach age 75.
Using pension savings to purchase a commercial property to “leaseback” to a company, is often a useful way to provide that company with a welcome cash injection.
Limited companies may be liable to a Corporation Tax bill when selling commercial property. Similarly, an individual may incur a Capital Gains Tax (CGT) liability on corresponding gains.
The FCA’s “Effective competition in non-workplace pensions” Feedback Statement risks giving consumers the price of everything and the value of nothing, says James Jones-Tinsley, Self-Invested Pensions Technical Specialist.
Today the FCA has published a number of documents and the latest ‘Retirement Outcomes Review’ Policy Statement has confirmed all pension providers will have to offer Investment Pathways to those individuals who go into drawdown on a non-advised basis.
We have been awarded an AKG** rating of ‘B’ for the third consecutive year, indicating that our financial strength has been deemed “strong”.