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Farm Business
Agricultural Matters
self administered pension
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<blockquote data-quote="outofthefryingpan" data-source="post: 3902688" data-attributes="member: 296"><p>There is a world of difference between a SIPP and a SSAS - notably the costs involved as with the SSAS. You effectively have your own pension scheme to run with all the associated duties and costs. If the rules are not followed then there can be some absolutely massive fines levied, hence the need for a decent trustee to stop this. A modern SIPP or personal pension can have some very low charges especially if you don't need a adviser looking after it for you. </p><p></p><p>Just reading between the lines Rob but it seems that you might be trying to get a non-allowable investment into the SSAS hence the not being able to get around it problem! Residential property and pensions do not mix. Also, I'm sure you are aware but there are limits on the annual contributions you can make into the pension so it may take sometime to get the proceeds of the house sale into the pension. Its also not going to do anything to help your CGT position - there is another option that a decent IFA would discuss with you I am sure. I would suggest go and see one, a decent IFA will have a lot of connections to deal with different situations and yours seems like it needs more of a team approach to achieve what you want.</p></blockquote><p></p>
[QUOTE="outofthefryingpan, post: 3902688, member: 296"] There is a world of difference between a SIPP and a SSAS - notably the costs involved as with the SSAS. You effectively have your own pension scheme to run with all the associated duties and costs. If the rules are not followed then there can be some absolutely massive fines levied, hence the need for a decent trustee to stop this. A modern SIPP or personal pension can have some very low charges especially if you don't need a adviser looking after it for you. Just reading between the lines Rob but it seems that you might be trying to get a non-allowable investment into the SSAS hence the not being able to get around it problem! Residential property and pensions do not mix. Also, I'm sure you are aware but there are limits on the annual contributions you can make into the pension so it may take sometime to get the proceeds of the house sale into the pension. Its also not going to do anything to help your CGT position - there is another option that a decent IFA would discuss with you I am sure. I would suggest go and see one, a decent IFA will have a lot of connections to deal with different situations and yours seems like it needs more of a team approach to achieve what you want. [/QUOTE]
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