A quick answer for anyone who's nodded along in meetings without quite knowing. A SSAS (Small Self-Administered Scheme) is an occupational pension set up most often by the directors of a business.
A director told me recently he'd paid rent on the same unit for eleven years and never once asked who owned the freehold. Once he saw where that money could have been going instead, it wasn't really a decision, more a formality.
From 6 April 2027, most unused pension funds and pension death benefits will be brought into account for Inheritance Tax (IHT) purposes, representing a significant change in how pensions are treated on death.
When I speak with business owners about pensions, many are surprised to learn that the right pension structure can play a more active role in their wider business strategy. For many conventional pension arrangements, that may indeed be the case.