Registering with HMRC
One advantage of an SSAS is that it can be exempt from certain taxes, including Capital Gains tax. If you want to invest in property, it can often be more lucrative to invest in property via a SSAS.
To qualify for tax-exempt status, an SSAS must be registered with HMRC. Each SSAS will also be granted a Pension Scheme Tax Reference (PSTR) number. It’s usually prudent to only start contributing to a SSAS (or make transfers from an existing pension) once you are registered. If you make contributions or transfers before being registered with HMRC, the contributions will not qualify for tax relief and transfers will be unauthorised.
You should also know if any members of your SSAS hold a certificate of protection or a HMRC protection reference number, and if the Money Purchase Annual Allowance applies to them.