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Tax
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Personal
A Trust is a way of managing and protecting your assets for the benefit of others, such as family members. Trusts can allow you to continue to have some control over the assets that you put into them, such as how and when the assets will be distributed. Trusts are flexible which makes them useful for inheritance tax planning.
There are different types of Trust and the tax rules around Trusts are complex. We have specialist Trust tax advisers, who can assist you with:
- Advising on the capital gains tax and inheritance tax positions of setting up a Trust
- Trust compliance – registering your Trust with HMRC, compilation of Trust accounts and tax returns
- Advising on the tax implications of making income distributions from a Trust, preparing forms R185 and repayment claim forms for beneficiaries
- Reviewing the inheritance tax position of certain Trusts at their 10 year anniversaries and completing inheritance tax forms IHT100
- Reviewing the capital gains tax and inheritance tax positions when capital distributions are made from a Trust or when a Trust is closed down and completing inheritance tax forms IHT100
- Advising on the tax treatment of Trusts for Vulnerable Beneficiaries and completing Vulnerable Person Elections (VPE1)
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