One of the key features of a SSAS is its investment flexibility. A SSAS has more investment options than any other UK registered pension scheme. One of those options is unquoted shares (also known as private equity), which are shares not listed on an HMRC-recognised stock exchange. This can be a very useful source of business finance and also an interesting investment opportunity, particularly with the lifetime cap on Entrepreneur’s Relief now set at £1 million.     The rules surrounding unquoted shares can be complex as they are tied-in with HMRC restrictions on pension schemes investing in what is called “taxable property” (e.g. residential property, machinery, vehicles and tangible moveable property such as art, antiques, and yachts). However, there is still plenty of scope for SSASs to invest in this asset class which the following will help to illustrate.