Why is a SSAS Administrator needed

SSASs are subject to legal requirements under pensions and tax law. They are regulated by the Pensions Regulator and HMRC. If the legal requirements applicable to SSASs are not compiled with, the Pensions Regulator and HMRC both have powers to fine the people at fault.

There are certain minimum legal requirements that must be met in relation to how a SSAS is set up and how it is then operated. As well as the need to comply with certain pensions laws, a SSAS must also be run in accordance with relevant tax laws. This is why it is prudent for the day-to-day operation of the SSAS to be looked after by a specialist pensions administration company

like Cantwell Grove. This does not absolve the trustees from their own responsibilities, however it is intended to provide trustees, in practice, with the support needed to fulfil the role.

Whilst a SSAS gives more control over what investments can be held, there are still strict rules as to which investments are allowable, and very diligent care needs to be taken so as to not trigger a taxable charge. Cantwell Grove needs to consent to any requested investment, and reserves the right to refuse to accept certain investments including any which may give rise to tax charges or an unacceptable liability or risk.