I have quit contracting and gone permi.
I have a SSAS that appears to be incurring mangement fee (£2K per year). I'm totally browned off with the low return and fees.
What are the implications of pulling all my cash out of the SSAS (and the monies that are invested from that account), and using it for my own investments?
Can I pull the money back into my business account (what, if any tax would be liable at that point), then shut the company down and share the money out between the shareholders (me and my wife...who has no income at the moment).
What would the tax implications be at that point?
Thanks
MTB
I have a SSAS that appears to be incurring mangement fee (£2K per year). I'm totally browned off with the low return and fees.
What are the implications of pulling all my cash out of the SSAS (and the monies that are invested from that account), and using it for my own investments?
Can I pull the money back into my business account (what, if any tax would be liable at that point), then shut the company down and share the money out between the shareholders (me and my wife...who has no income at the moment).
What would the tax implications be at that point?
Thanks
MTB
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