We believe that despite the majority of business owners being recommended to use a SIPP, a SSAS is actually the best pension scheme out there for small businesses in the UK.
A SSAS, or ‘Small Self-Administered Scheme’, is a registered pension scheme designed specifically for small businesses, and that is available to limited companies or partnerships with up to 11 directors or executives.
It has a number of unique benefits for business owners, including its ability to improve cashflow by providing a loan back to your clients business, and it can also be used as an attractive planning tool to reduce Corporation Tax.
A SSAS is probably the best pension scheme for small businesses as it provides flexibility and security with the widest range of investment options available to any pension scheme, and has the unique loan back facility.