Trust Tax Advice and Compliance

Trusts are a useful tool in tax planning and protecting your wealth for future generations whilst also being able to offer additional protection for your capital against issues such as marital breakdown or bankruptcy of beneficiaries.

We deal with all aspects of tax advice and compliance in relation to trusts, from their initial creation and ongoing administration through to their eventual termination. We are here to support trustees through the complexities and provide the specialist advice needed from beginning to end.

Our trust advisory services include:

• Advising on the creation of trusts to meet your wishes and longer-term objectives concerning your assets
• Reviewing legal documents such as trust deeds, letters of wishes and trustees’ resolutions and liaising with your solicitors to ensure aims are met in a tax-efficient manner
• Offering a corporate trustee who can assist with independently managing the trust
• Providing advice to trustees in relation to the tax implications of making income or capital distributions to beneficiaries
• Advising on the Capital Gains Tax implications of disposals of assets by the trustees and potential mitigation of such liabilities
• Providing Inheritance Tax advice to trustees, including the availability of reliefs, such as Agricultural Property Relief and Business Property Relief

Our trust compliance services include:

• Completing annual trust accounts, trust tax returns and forms R185 for beneficiaries
• Completing UK Capital Gains Tax returns for disposals of UK residential property by trustees, as and when required
• Preparing forms IHT100 and supplementary pages for Inheritance Tax events such as ten-year anniversary charges and exit charges
• Dealing with anti-money laundering compliance on behalf of trustees under the Trust Registration Service (TRS) obligations

Preparing any necessary forms or returns required under the FATCA/CRS regimes where there are non-UK resident persons associated with the trust.