Tax Relief
SSAS registered with HMRC may enjoy tax-exempt status, all investments made will be free of Capital Gains Tax, and contributions to the SSAS will receive tax-relief (if contributions are made by a "Relevant UK Individual"). Basic rate tax relief can be claimed by the SSAS itself, and any higher rate tax would be claimed through the member's tax return.
The sponsoring employer can also pay contributions to the scheme and may obtain tax relief on the contributions.
Tax relief on personal contributions is calculated at the person's marginal rate of income tax, and for company contributions it is calculated as the company's marginal rate of corporation tax. Third party contributions may be made in some circumstances.
Read more about this topic: Small Self Administered Scheme
Famous quotes containing the words tax and/or relief:
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—Henry David Thoreau (1817–1862)
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—Administration in the State of Neva, U.S. public relief program. Nevada: A Guide to the Silver State (The WPA Guide to Nevada)