James Hay Consultancy, Abbey National's specialist pension provider, has introduced a new property g...
James Hay Consultancy, Abbey National's specialist pension provider, has introduced a new property guide in a bid to help people who want to buy commercial property through a Small Self-Administered Scheme.
This comes as the IFA service adviser believes that SSAS property purchase can be a very complex area of business as well as rewarding.
James Hay Consultancy's director David Seaton says that "buying property through a SSAS is tax efficient and can inject valuable cash flow into a company as well as building up a substantial pension fund for retirement."
But while there are many distinct benefits with SSAS property purchase, Seaton also recognises that it can be a complicated process.
"There are many areas to consider. These include who exactly the trustees can transact with and what type of property can be invested in as well as, funding, VAT, liquidity and reporting requirements for the Inland Revenue."
"Our new property guide addresses all of these issues, helping clients and their advisers through each step of the process. Not only will this assist them in tackling some of the issues that may arise, it will also help to eliminate some of the problems and pitfalls commonly experienced in such transactions," he adds.
Intermediaries also seem to find the guide useful. Stephen Watson, managing director of Watson French, says "the whole aspect of property purchase by a SSAS is full of mystery for many business people. This guide helps to remove it."
To request a copy of the James Hay Property Guide call 01722 420123 or email [email protected]
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