Trusts and estates are both required to complete and submit to HMRC a self assessment tax return and pay any tax that arises therefrom. Within our private client tax departments, we have the expertise to assist you with the tax compliance and tax planning areas of these unusual taxable entities.
Specialist areas where we are typically involved include:
- Preparation of annual accounts,
- Preparation and submission of the annual tax return,
- Preparing R185 certificates for beneficiaries,
- Assisting with obtaining probate and the administrative necessities of valuing assets and changing ownership details,
- One of our partners acting in an individual capacity as a trustee or executor,
- Advice on initially establishing and registering a trust,
- ‘Breaking’ a trust and ‘unwinding’ its tax status,
- Advising on, and calculating, any inheritance tax due,
- Considering whether a Deed of Family Arrangement would be a more acceptable (both from a practical and inheritance tax perspective) estate distribution than that detailed in the Will.
Instruct us to act as your trust or estate accountant and tax adviser and let us take away your worry of complying with the various tax and legal rules. We shall also assist you to obtain maximum tax advantage through structuring your affairs in this manner.