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Protecting Your Wealth
Trusts are often established for various reasons, including tax mitigation, asset protection, and managing assets for those unable to handle their own affairs. There are several types of trusts, such as discretionary trusts or interest in possession trusts, where trustees hold assets on behalf of beneficiaries.
Why Set up a Trust?
Our expertise and understanding of trust law ensure that your assets are managed securely and tax-efficiently. There are many reasons why setting up a Trust could be the right path for you:
- Mitigating Tax: We provide professional advice on how trusts can be used to reduce tax liabilities, including inheritance tax and capital gains tax.
- Asset Protection: Trusts are effective tools for safeguarding your assets, ensuring they are distributed according to your wishes and protected from potential risks.
- Long-Term Succession: Trusts can offer long-term succession planning, protecting assets for future generations while shielding them from events like divorce.
- Ongoing Trustee Support: Our team is available to advise trustees on their duties to ensure the trust is administered in compliance with legal requirements and beneficiaries’ interests are protected.
Legal Compliance and International Considerations
Trusts must be compliant with UK laws, and we provide complete support:
- Trust Registration Service: We handle trust registration with the Trust Registration Service, a legal requirement for most trusts.
- Tax Compliance: Our team can complete tax returns on behalf of the trust, declaring any income or gains and settling any tax due.
- Reporting and HMRC Filings: We assist in reporting exit charges and Ten Year Anniversaries to HMRC and settling any associated tax liabilities.
- International Advice: For those with international assets, we provide advice to avoid unintended consequences and ensure full compliance across borders.
We offer full trust management services, including acting as professional trustees if needed, ensuring you can manage your assets efficiently and confidently.