Question: I have husband and wife clients (early 40's), both of whom are working directors of their company. They want to pay into a new plan, transfer other funds and borrow etc and purchase a commercial property off the husband and his father. My feeling after having done a bit of research is that SIPP is probably the route to go. Would you agree or could SSAS be a better option?.
Stewart Dick: A SIPP arrangement would meet your client's needs, although it is certainly worth considering SSAS as well. A SSAS would be able to achieve the stated aim of pooling existing pension funds, borrow and purchase commercial property just as well as a SIPP, and it could have some other advantages as well. For example the single Trust nature of a SSAS makes succession planning and thinking about exit strategies easier - particularly if there are children who may also join the business in the future. The other key advantage for a SSAS is the ability to loan funds back to the sp...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
