Our experienced tax team has a wealth of experience in dealing with Trusts, Estates and Executorships.
As the taxation aspects and management of trusts and estates can be complex, you will benefit from clear and succinct advice, ensuring you fully understand the implications of the work undertaken on your behalf.
Trusts
Many of our clients seek our advice regarding the protection of family wealth. Trusts can provide a useful vehicle for this.
We specialise in the provision of tax planning advice for the setting up, maintenance and winding up of trusts.
As the taxation and administration of trusts can be time consuming, we can assist by handling all aspects of the operation of trusts including:
- The tax implications of setting up a Trust
- Preparation of annual Trust accounts and tax returns and calculation of tax payable
- Assisting with the day to day management of trusts
- Advice on income and capital distributions and tax implications arising therefrom
- Ensuring compliance with all of HMRC’s requirements including the update of the Trust Register
- Advice on the winding up of a Trust
Estates
With detailed knowledge of our clients’ financial affairs, gained over a number of years, we are often best placed to assist Executors with the administration of a client’s estate.
Our team can deal with HMRC and beneficiaries on behalf of the Executors, and can take care of all tax and accounting aspects of the Estate, including:
- Dealing with the deceased’s tax affairs to date of death
- Assisting in the collation of probate data
- PreparingInheritance tax returns
- Preparing Estate Accounts and calculating the income tax, capital gains tax and inheritance tax liabilities arising in the period of administration
- Liaising with HMRC throughout.
Executorships
As a result of the long-term business relationships we develop with our clients, we are often asked to act as executors for them.
Our clients can then be assured that they have a professional, who is fully conversant with their financial affairs, dealing with their wishes as expressed in their Wills.
For more information about Trusts, Estates and Executorships, please Contact us.
