Self-Invested Benefit arrangement (SIBA)
This was a scheme we devised before A day (6 th April 2006) that worked much like a SSAS with the company directors (or any employee) acting as trustees alongside CTTP.
The benefits were more restrictive than a normal SSAS but there were no investment restrictions. Our clients were therefore able to residential property, works of art, own company shares off connected parties etc before A day and may retain these post A day and have all the freedoms of the new regime.
Our existing SIBAs therefore become like SSAS schemes although they retain some unusual investments.New Developements
Using the same innovation that we used to create the SIBA we are looking to create a “Super-SSAS” that will allow employers (including self-employed and partnerships) to pay contributions well in excess of the new annual and lifetime limits.
Contact Central Tax & Trustee Planning LLP for further information
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