Rowanmoor’s scheme practitioner services for small self-administered schemes (SSASs) are designed for employers and SSAS trustees with scheme administrator responsibilities, who are looking for professional support for their scheme. The services are offered as an option alongside our ‘full’ scheme administrator and trustee-serviced Rowanmoor SSAS.
The administration and tax rules governing SSASs are complex. Without an experienced administrator or practitioner supporting them, the trustees and the scheme can fall foul of HMRC rules, opening themselves up to tax penalties for breaking the rules the scheme is governed by, if not run correctly.
No two schemes are alike, so Rowanmoor’s SSAS practitioner services are variable; from providing technical expertise, actuarial, consultancy and scheme accountancy services, to scheme documentation and administration. The services are suitable for existing SSASs, including scheme takeovers with existing property portfolios.
We can be appointed to provide practitioner services to any scheme, which:
- is registered with HMRC; and
- has been established under an individual trust; and
- has fewer than 12 members; and
- has a trust deed and rules which allow amendment; and
- successfully meets the requirements of our investigation process.
What is a scheme practitioner?
Every pension scheme registered in the UK must have a scheme administrator who is accountable to HMRC for complying with HMRC rules and regulations and has various reporting requirements. A scheme practitioner is anyone acting on behalf of a scheme administrator.
Why use a SSAS practitioner service?
SSASs which have been administered without the involvement of a professional scheme administrator or practitioner may be facing significant issues including fines as a result. We can support schemes such as these by offering our experience and expertise through our SSAS practitioner service, to ensure the scheme is compliant and run correctly going forward.
We can be appointed practitioner, which will enable correspondence with HMRC, and provide up to date scheme documentation, actuarial, administration, pension payroll and reporting services, or just provide guidance on specific technical issues.
What SSAS practitioner services does Rowanmoor offer?
We will undertake a review of the scheme and after this initial investigation, agree the precise services to be provided, which can include;
- new scheme documentation;
- providing technical and administration services;
- maintaining scheme records;
- preparing annual scheme accounts;
- preparing and filing certain HMRC reports;
- assisting advisers and trustees in the purchase and sale of scheme assets;
- giving guidance on complex scheme assets such as property, borrowing and loans;
- guidance on the payment of scheme benefits;
- specialist actuarial advice and calculations;
- pension payroll services.
If you would like to know more about our SSAS Practitioner Services, please contact us or email us. You can also visit the SSAS Practitioner Services literature library for an Application Form and the Member Questionnaire.