Our Private Client Team can help to either create a trust in their will or set up a trust during their lifetime either as a tax planning tool or for any other reason. A trust can also be an important means of safeguarding assets for the next generation.
Once the trust is in place we are able to assist you with the day to day administration to ensure compliance with HMRC, from the completion of annual accounts and tax returns to the distribution of monies to your named beneficiaries. The administration of trusts can be a time consuming exercise and our solicitors are experienced with advising both beneficiaries and settlors alike.
Example of our experience: Administration of Trusts – Trust taxation
We were approached by the trustees of a trust with a bag full of papers. The trustees had got themselves in rather a muddle finding themselves completely out of depth in dealing with the trust’s taxation affairs. We established a record with HMRC to act as Agent for the trustees and then completed several years of amended trust and estate tax returns, to include making claims for tax repayments on behalf of those minor beneficiaries who had received income distributions from the trust during those years. We now act for the trustees in all aspects of trust administration.
"Kate is easy to talk to, sympathetic, knowledgeable and gives good easy to understand advice and answers to difficult questions…