Trust and Tax Services

Trusts are often feared for being overcomplicated and outdated. They are not always simple, but they remain important and flexible tools to help with the controlled devolution and preservation of wealth and to protect vulnerable people.

We regularly advise on the creation and day to day running of trusts for a wide variety of clients including settlors, trustees and beneficiaries of trusts. We work closely with clients to ensure their trusts are utilised for maximum benefit.

Trusts are frequently created and used for the following purposes:

  • Mitigate and plan for Inheritance Tax for the benefit of future generations
  • Protect vulnerable or financially irresponsible beneficiaries
  • Protect future inheritance from potential divorce or bankruptcy
  • Catastrophic or personal injury compensation protection and management

Our approach is always to consider how useful and appropriate a trust is to individual circumstances. When it ceases to be useful, we advise on a trust’s efficient termination.

Our advice frequently covers one or more of the following aspects of trust law:

  • Creation of trusts, discretionary trusts, personal injury trusts, life interests trusts, disabled trusts
  • Distribution of trust assets
  • HMRC Trust Registration Service (TRS) requirements
  • Termination of trusts
  • Trust reviews and reorganisation
  • Tax implications
  • Trustee powers and duties
  • Change of trustees
  • Applications to the Court to vary trusts
  • Accounts and HMRC returns for income and capital taxes