The Difference a SSAS Pension can Make to You
Episode description
Shaz is explaining the benefits of having a SSAS pension and uses some great business examples in this episode.
He goes through each example in detail, explaining how a SSAS impacts positively on the different steps.
A SSAS has huge tax-saving potential both as a tax-saving strategy and as an investment strategy so if you haven’t considered a SSAS before, consider it now as it can lead to considerable savings and the truth is it’s just too good to ignore.
KEY TAKEAWAYS
- SSAS is a ‘small self-administered scheme’ it is a type of defined contribution pension.
- An effective way to extract profit from your business is to put it into a SSAS.
- When you move money from your company to a SSAS you get tax relief.
- A SSAS helps you to;
-Reduce tax payments
-Move forward with effective estate planning.
-Organise retirement planning to ensure income in the future.
-Protect your assets, any property bought in a SSAS is in a separate entity so it is ring-fenced against your business.
-There is huge tax-saving potential in using a SSAS both as a tax-saving strategy and an investment strategy.
BEST MOMENTS
‘You can make a sizable saving’
‘The SSAS isn’t going to pay any tax on the income’
‘There is a gigantic saving by moving commercial property to a SSAS, reducing income tax, capital gains tax and inheritance tax’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: