Starting a trust provides a useful tool for tax planning purposes, since it can be a good way of making tax-efficient vehicles to benefit you, your family and future generations. Our experienced trust solicitors can advise you on the necessary steps and benefits.
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 can advise you on the type of trust which is best suited to your needs.
For expert legal advice concerning trusts, contact Trethowans today on 0800 2800 421. We have offices located across Dorset, Hampshire and Wiltshire.
Why set up a trust?
Trusts can be established for a variety of reasons and 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 allows you to achieve this.
Our expertise in tax and trust matters enables 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.
Contact our team of trust administration solicitors on 0800 2800 421 to discuss the possibilities available to you.
Using trusts for effective tax planning
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 beneficiaries and, where appropriate, the need to alter the original trust structure.
We are able to provide you with ongoing advice on agricultural 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.
Our experience enables us to provide trustees and beneficiaries appropriate and tailored advice to meet their 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
- Changing 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. We have offices in Salisbury, Southampton, Bournemouth, Poole, Winchester & London.