Trusts and Estates

However, setting them up and maintaining the trust requires expert guidance. Our expertise spans every aspect of trust taxation, and we can guide you through the tax legislation to decide the most suitable trust arrangement for your individual circumstances.

At TWP we cater to all sorts of trusts.  We can assist with the annual accounting and tax obligations that all trustees will have. We are able to provide advice from the initial settlement right through to final distributions and termination, as well as everything in between.

There are a number of circumstances in which you might consider setting up a trust, including if you:

  • are considering stepping away from personal business ownership but don’t want to split up the shares between multiple family members;
  • are currently not resident or domiciled in the UK, have significant assets, and are contemplating moving to the UK;
  • are considering passing assets to the next generation(s)but want to protect the assets.
  • are considering how to provide for a spouse after you die whilst ultimately leaving assets to your children;
  • are considering making a significant gift to charity;
  • are considering how to provide for a vulnerable or disabled beneficiary; or
  • are currently paying, or would consider paying, school fees for your grandchildren.

We can also provide ad hoc advice in respect of existing trusts. This advice given could be to trustees seeking direct advice in relation to the trust’s affairs, to beneficiaries unsure of the tax implications or considering taking a distribution, to settlors seeking to understand the impact on ever changing legislation and to all those involved in overseas trusts who are unsure of the UK tax implications.

Other services we offer include:

  • advice in relation to Capital Gains Tax for the disposal of trust assets and planning regarding the appointment of trust assets to beneficiaries;
  • IHT implications;
  • 10-year anniversary reporting and exit charges in relation to the capital distributions to a beneficiary;
  • advice on how to wind up an existing trust that has run its course.