Trust & Inheritance Tax

Details

Trust is the succession planning and vehicle for tax, for managing assets such as money, investments, lands, and building for the individual. There are various types of trusts that are taxed differently. A trust involves different individuals such as:

Settlor – Individual who puts assets into a trust
Trustee – Individual who manages the trust
Beneficiary – Individual who benefits from the trust

The trusts are set up for various reasons – to control and protect family assets, handle the financial affairs for the younger individuals or those who are incapacitated to handle by themselves, to pass on the assets while alive or after death, or manage the finance under the rules of inheritance when someone dies without a will.
When the trust is set up appropriately, it becomes an effective part of estate planning, which is an extremely complex area of tax law that needs expert advice to benefit at its best. The recent changes in the taxation of trust in recent times have made it even more complex. And we are experts and experienced in handling the taxation matter for the private clients with the right solutions and right conditions

How Can We Help You!

Understanding Inheritance Tax (IHT) completely is complicated and time-consuming for any individual. And with the complexities, the Inheritance Tax legislation like the Residential Nil Rate Band, it is critical to connecting with the expert who could help and guide with their right understanding. It helps in maximizing all the available Inheritance Tax allowances.

To undertake and regularly review the Estate planning ensures that your assets and the prized possessions are passed to them safely and securely to your family with a reduced impact of the potential Inheritance Tax bill. There are different methods the Inheritance Tax planning work depending on the circumstances. Our legal team is expertise in dealing with every case efficiently and guiding you with the exact option to choose for Inheritance Tax planning and wider Estate planning.

We approach these circumstances in a delicate, discreet, and professional manner with the right understanding of the client’s requirements. Our services for IHT include advising on the following:

Estate reviews and a ‘Wealth Health Check’ to understand your current position along with your major areas of concern

Your business interests, shares, and investments for Business Relief which could be up to 100% from IHT

Trusts as a vehicle for tax efficiently passing wealth to your family

Structuring assets in a tax-efficient manner

To minimize the administrative burden for beneficiaries of estates

Reviewing existing trust structures and to confirm if the existing structure remains fit for purpose

Compliance services for the trustees, executors, and personal representatives

The compliance and administrative burden for non-UK trustees have always been complex. The trustees of non-UK trusts should try to understand through specific inputs from the advisors who are well-versed in the inherent complexities, especially after the extensive changes introduced in April 2017 and hereafter.
For more information on the Inheritance Tax or for our expert legal services, please contact us immediately. We will help you with thorough Inheritance Tax planning that makes a real and lasting positive impact on your family’s future.

Get in Touch!

Are you looking for reliable, efficient, and precise accounting services in the UK which are also cost-effective? We spend time listening to your concerns, assure the best service, and represent/guide you appropriately on HMRC guidelines, and prepare you for the appeal process.