Flexible Contributions

Both SSAS and SIPP’s allow flexible contributions to be paid into them (within specified limits) and these contributions attract tax relief.

We do not impose a minimum contribution limit so a member and/or their employer can choose how much to invest. Personal and employer contributions can be made via single or regular contributions and they can also stop, increase, or decrease at any time, without penalties.

Contributions paid by a member, or on their behalf by a third party other than your employer will receive tax relief up to the higher of:-

• £3,600 (basic amount); and
• 100% of your UK earnings subject to a maximum known as the annual allowance.
• The annual allowance is:

Tax year	Annual Allowance
2007/08	£225,000
2008/09	£235,000
2009/10	£245,000
2010/11	£255,000

• Tax relief on personal contributions will be received at the member’s highest rate of income tax.
• For example, if basic rate income tax is 22% and the member pays £78 per month, once the tax relief is reclaimed, a further £22 will be added to the fund, This means that for every £78 paid, £100 goes into your plan. Any higher rate tax can be reclaimed through the member’s individual self-assessment and offset against any potential tax liabilities.
• Employer contributions will be paid gross and will usually be treated as a business expense and may attract relief from corporation tax.
• Any contributions paid in by your employer do not count towards the limits for personal contributions, however if the total contributions in any tax year exceeds the annual allowance then tax relief will not be given on the excess.

Registered Address: 1 & 2 St Matthews Business Centre, Gower Street, Leicester LE1 3LJ
Registered in England & Wales No. 02562924
Westerby Trustee Services Ltd is Authorised and Regulated by the Financial Services Authority Reg. No. 463533