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Byline: John Chapman
Combining corporate planning ruses with pension saving makes SSASs potent weapons, says John Chapman
Small self-administered schemes (SSASs) appear at first sight to be simply niche pensions for small firms. But they are also vehicles for tax avoidance, lending, cash flow improvements, property purchases, and family successions. With only 30,000 SSASs in operation, the facility appears under used by the hundreds of thousands of small firms that could benefit.
SSASs were introduced 35 years ago to allow directors to have their own pension schemes. Although largely unregulated, over time government departments have sought to ...