SSAS fee schedule
Charges for our Small Self-Adminstered Pension Schemes
1 June 2023
Click the dropdown sections below for more information or visit our SSAS page to learn more about our services.
We can set up small self-administered pension schemes for UK-based trading companies where all the members act as trustees along with Barnett Waddingham Trustees Limited.
The Scheme Establishment fee includes:
Please note that we will only set up a new scheme where we are appointed to act as a professional trustee.
An initial fee of £750 plus VAT is payable on production of the Scheme Establishment documentation and an additional £500 plus VAT is payable once the scheme has been registered with HM Revenue & Customs and the bank account has been set up.
Our fee for Scheme Establishment is £1,250 plus VAT.
Trustees are responsible for administering the scheme and its benefits although will usually delegate this to a pension professional. We charge a fixed fee for Annual Administration Services which can include the items shown below, where required.
Please note that the Annual Administration Services fee does not include levy payments that may be due to The Pensions Regulator and the Information Commissioner’s Office.
Our Annual Administration Services fee is £1,500 plus VAT or £1,750 plus VAT where we act as sole Scheme Administrator (see Note 3). An additional annual charge of £170 plus VAT applies where trustees are using a non-panel current bank account (See Note 4). Our Annual Administration Services fee accrues monthly and is invoiced six-monthly in arrears.
Our fixed Annual Administration fee is the same amount for all our clients. We do not charge annual ‘per member’ or ‘per investment’ supplements simply for a scheme having more than one member or an investment other than cash at bank.
The Annual Administration Services fee covers essential work that we think is best done by the pension provider. Other work will be required from time to time. Due to the variable nature of additional work requested, we charge on a time-cost basis (i.e. the work is invoiced in arrears based on the time spent and the charge out rate of the people involved). In some instances, though, where the work is uniform, we charge on a fixed fee basis. Work charged on a fixed-fee basis is shown below. Fees charged “per tax year” are payable if the service occurs for any part of the tax year.
Service | Fee |
Bank account set up (panel bank account) | £280 |
Collectives investment account establishment (excludes stockbroker accounts) | £290 |
Collectives investment account top up, withdrawal or closure (excludes stockbroker accounts) | £90 |
Legal Entity Identifier application (including LSE levy) |
£175 for annual renewal £375 for 5 yearly renewal |
New Scheme Member or Trustee (see Note 5) | £415 |
Scheme wind-up (Deed of Determination and post wind-up administration only) | £500 |
Service | Fee |
Legal Entity Identifier annual renewal (including LSE levy) |
£95 for annual renewal £295 for 5 yearly renewal |
PAYE administration for payment of pension through our payroll provider (per scheme) | £430 per tax year |
Relief At Source Administration | £390 per tax year |
Rental invoicing | £80 per tenant per payment |
SA970 Tax Return completion and submission if not nil return (no charge for nil return) | £150 per return |
VAT Return Submission via Making Tax Digital | £85 for the first property plus £25 for each additional property per quarterly return |
Providing reconciled unaudited financial statements (see Note 6) | £160 - £800 |
Additional work that we conduct that is not covered by the Scheme Establishment, Annual Administration Services or Supplementary Fixed fees is conducted on a time-cost basis. We can provide estimates in advance on request and will only charge time-cost fees for work that has been requested or we are required to conduct to discharge our duties to the trustees and the relevant authorities.
Examples of work conducted on a time-cost basis are shown below.
The current hourly rates vary in line with experience and seniority. The range of rates as of 1 June 2023 are set out below - rates applicable to particular staff can be confirmed on request.
Role | Hourly rate range, plus VAT |
Associate, Principal or Partner | £310 - £455 |
Client Manager | £200 - £310 |
Client Administrator | £145 - £175 |
For more information about the independent, expert services we provide in this area, speak to our team today at the link below.
Or if you have questions relating to your SSAS with Barnett Waddingham, please use our Scheme Member Contact Form.
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