Trust Fund Management

Trusts are used for a number of reasons, not just for tax planning.  They are often used for asset protection, particularly where family members would like to start gifting assets to the next generation, but the intended recipients may not be old enough to cope with managing assets responsibly.  Trustees are appointed to manage the assets in accordance with the Trust deed, and the assets will only pass to the beneficiaries once they have reached the age specified in the Trust deed.  Trusts are subject to a separate income tax regime, and the assets in a trust may be chargeable to a small inheritance tax charge every ten years.    

We can assist by:

• Advising on the capital gains tax and inheritance tax implications on the creation of trusts and claiming any appropriate reliefs.
• Notifying HMRC of the Trust’s creation for income tax, capital gains tax and inheritance tax purposes.
• Preparing trust income tax and capital gains tax returns and supplying tax information to beneficiaries.
• Preparing the 10 year inheritance tax returns for Trusts on the appropriate anniversaries.

More Information

If you would like to know more, contact:

Sheena Anderson  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Alison Beattie  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

or call 01224 625111