What is a trust?

A trust is a way of managing money, investments, land or property and requires a trustee to manage the trust, a settlor to puts the assets into trust and a beneficiary who benefits from the trust.

Are there different types of trust?

Yes, and with differing tax treatment depending upon the exact terms of the trust.

Why set up a trust?

Trusts can be set up to control and manage assets for a number of reasons including:

  • Children or vulnerable adults who cannot manage the assets themselves
  • Protecting family assets
  • Tax planning while you are still alive and also when you die
  • A tax-efficient way of passing on your business to your employees

Is a trust the best solution?

Good question. It depends on what you are trying to achieve or protect, and taking specialist professional advice could save you much heartache, work and even tax later on.

Whether you are exploring if a trust is an appropriate vehicle to mitigate future IHT and keep precious family assets in the bloodline, or maintaining the online trust and estate register and fulfilling the reporting obligations for an established trust, UHY Ross Brooke is well placed to help.

Our services can be tailored precisely to meet your specific needs, whether you are an individual, company or charity.

Trust Areas we cover include:

  • IHT Planning
  • IHT Reporting for Relevant Property Trusts subject to Principal and Proportionate charges (also known as ten-year anniversary and exit charges)
  • Registration on and updating of the Online Trust and Estate Register
  • Preparation of Trust and Estate accounts
  • Completion of Trust and Estate Tax Returns and Estate Informal Reporting
  • Trust and Estate 60 Day CGT Reporting on the disposal of UK residential property
  • Income Tax Planning including tax efficient trust distributions
  • Support and advice for Trustees
  • Self-Assessment Tax Returns for beneficiaries receiving Trust income
  • Employee Ownership Trusts (EOTs)

With experts in tax planning and trust management, we can take the hassle away. Get in touch for an initial free consultation.

Next steps

Please get in touch to discuss how we can help you with your trust questions.