Trusts can be an effective way to distribute wealth and reduce tax. While tax benefits for UK residents and domiciled individuals have decreased, trusts can still play a vital role in succession planning. They are particularly useful for non-residents and non-domiciled individuals with substantial assets outside the UK. Trusts can also be used to pay income to certain family members tax-efficiently.
The financial administration of trusts and estates can be complex and time-consuming. Our tax specialists can help with all aspects of trust administration, including preparing annual accounts and trust Self-Assessment Tax Returns.
At Hamlyns, our team of tax experts can help you understand the most appropriate type of trust to utilise, set it up, and deal with the wide-ranging tax issues surrounding trusts and estates.