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Module 4: What a SSAS can and cannot hold
Lesson 1: The range of permitted assets
Lesson 2: What a SSAS cannot hold
Lesson 3: Connected parties
Lesson 4: Why the boundary matters
Check what’s stuck
A few questions on this module. There is no pass or fail — they are just for you.
1. Module 4 names a range of assets a SSAS can hold. How should you treat that list?
- As a set of recommended investments
- As the complete list of everything allowed
- As a range of options, not recommendations
- As steps to take in order
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As a range of options, not recommendations
2. HMRC permits something. What does that tell you?
- Only that it's allowed
- That it's a sensible choice for your scheme
- That your administrator will do it
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Only that it's allowed
3. What usually happens if a scheme holds residential property, or things like art, antiques or classic cars?
- They're banned outright
- They're treated as taxable property and attract tax charges
- Nothing, as long as all the trustees agree
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They're treated as taxable property and attract tax charges
4. What has to be true of a transaction with a connected party?
- It can't happen at all
- It can go ahead at any price the trustees agree
- It must be at market value, evidenced by someone independent and professionally competent
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It must be at market value, evidenced by someone independent and professionally competent
5. What happens when a transaction crosses the line?
- The tax treatment is taken away, and charges can fall on the member and on the scheme
- A fine is added and the transaction otherwise stands
- Nothing, if it was a genuine mistake
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The tax treatment is taken away, and charges can fall on the member and on the scheme