Through Knox Cropper’s specialist trust department, we advise clients on the use of trusts for tax efficiency, helping protect inheritances in a safe structure.

Whether as settlor, beneficiary, or trustee, our tax team can provide comprehensive advice to bring peace of mind in this complex area. We also work with a number of solicitors to ensure your trust is structured effectively and administered correctly.

Examples of trust issues we typically advise on include:

  • The benefits of establishing a trust, taking into account the settlor’s circumstances and tax position
  • Trust administration, including accounts preparation and tax return completion
  • Historical and ongoing tax issues, such as the discovery of errors in previous trust tax returns
  • HMRC enquiries
  • Trust tax planning opportunities, such as the acquisition or disposal of assets, and consideration of whether the trust continues to meet its original purpose
  • The tax implications of making distributions to beneficiaries, including the winding up of a trust
  • Inheritance tax forms

Knox Cropper are also experts in tax compliance, and undertake trust tax services for family trusts to ensure they comply with their statutory requirements, including registration with the Trust Registration service where applicable.

These services include annual trust and estate returns, calculation of capital transfers and ten year charge calculations. It also includes corresponding with and monitoring of HMRC to ensure all trusts are up-to-date with their affairs.

Trusts can be useful tools for anyone looking to plan for the future, whether for contributing to the cost of education, the provision of funding to children and other relatives, or simply planning to pass wealth down to the next generation. Let us help guide you through the process and safeguard your finances for the beneficiaries you want to protect.

To find out how we can help you, please contact one of experts below.