Trusts and Tax Planning

Benjamin Franklin wrote in 1789 that “in this world nothing can be said to be certain, except death and taxes”. You cannot avoid the former but we can help ensure that the burden of the latter is kept to an absolute minimum. Good, intelligent tax planning can make a real difference.

Trusts provide a useful tool for tax planning purposes since they can be a good way of making tax-efficient vehicles to benefit you, your family and future generations.

There are various types of trust that can be advantageous to you. Our tax planning and trust experts understand that everyone’s circumstances are different and are able to advise you on the trust which is best suited to your needs.

Why establish a trust?

A trust can be established for a variety of reasons and they can give you the benefit of a flexible structure for protecting your assets for future generations.

For example, you may wish to assist your children on the purchase of a property whilst preserving the contribution from an immature child, a fragile marriage or physical or mental deterioration of a family member. A trust is able to achieve this.

Our expertise in tax and trust matters will enable us to calculate your potential liability for inheritance tax or capital gains tax and guide you through the complex UK tax legislation in order to minimise your liabilities and to maximise the reliefs available to you.

We are able to provide you with ongoing advice on agricultural property relief and business property relief to reduce the inheritance tax liability, as well as the use or impact of holdover relief, rollover relief and entrepreneurs relief to reduce or postpone your capital gains tax liability.

Trusts can last for up to 125 years and it is important that you have access to advisers who can help with all the taxation issues connected with trusts, the needs of the beneficiaries and where appropriate the need to alter the original trust structure.

Our experience enables us to provide trustees and beneficiaries appropriate and tailored advice to meet your needs and circumstances on all aspects of trust law including the interpretation of the trust documentation and past actions by trustees.

Working with you and your family we will advise on:

  • The creation of all forms of UK trusts and their use in tax planning and the devolution of family assets to the next generation
  • Tax-efficient gifts to trusts
  • The change of trustees
  • Distribution of trust assets and the tax consequences of doing so
  • Advising existing trustees on their powers and responsibilities; statutory and under the provisions of the trust deed
  • Variation of existing trust arrangements
  • Inheritance tax and capital gains tax issues affecting trusts
  • Holdover relief, entrepreneurs relief and rollover relief from capital gains tax
  • Agricultural property relief and business property relief from inheritance tax

To discuss your tax planning and trust requirements with one of our experienced solicitors, call us today on 0800 2800 421.

Meet the team

James Hammersley

Partner
Poole

Mihiri Gajraj

Partner
Southampton

Chris Pemberton

Partner
Salisbury

Richard Dollimore

Partner
Poole

Gary Pick

Partner
Poole

Rupert Thompson

Senior Associate
Winchester

Claire Radigois

Senior Associate
Salisbury

Martha Swann

Associate
Poole

Holly Algar

Associate
Southampton

Derek Bryer

Associate
Salisbury

Arcadius Gregory

Solicitor
Southampton

Jenny Shucksmith

Chartered Legal Executive
Salisbury

Paula Arnold

Trusts and Tax Practitioner
Poole

Karen Dalton

Tax Assistant
Poole

Helen Glatter

Chartered Accountant
Poole

Philip Savage

Paralegal
Southampton