A SSAS for Family Wealth
Bill and Lesley M from Shropshire engaged us to set up their SSAS using their family owned Company. They made employer contributions into the Scheme which would otherwise have attracted corporation tax relief. The funds in the Scheme were then used to purchase a commercial property that they traded from with a bank mortgage.
Further activity
The rent received from the property paid off the mortgage and the property increased in value. The Business grew and needed further premises which were again purchased in the SSAS with another mortgage. Again over time the rent received paid off the mortgage and the scheme became debt free and cash generative.
The children joined the business and became members of the SSAS, with all members benefitting from the secure returns of property and rental growth funded by their business.
Once this second property was not needed for the Company, it was then rented out to a third party, producing independent income that funds the pensions.
