Our approach
Trusts have historically been used for asset protection and for multigenerational succession planning. This continues to be the case today with trusts very much remaining relevant for tax, estate and succession planning whilst retaining their historic benefits. Indeed, there are a wide range of practical uses for trust planning within large international structures and for family wealth planning.
At Menzies we cater to all types of trusts. While we can assist with the annual accounting and tax obligations that all trustees will have, this is just a small, albeit important, part of a much bigger picture. We are perfectly positioned and have the expertise to provide advice from the initial settlement right through to final distributions and termination, as well as all stages in between.
We adopt a pro-active and supportive approach to trust services. Our experienced team pride themselves on identifying tax planning opportunities and supporting trustees in the day-to-day trust management.
We provide ongoing support, keeping you informed and addressing concerns promptly. Whether establishing a new trust or advising an existing one, our team navigates trust taxation complexities with confidence.
Our trust services
Our experienced team can advise and support trustees and families in the following areas:
- Succession planning and considering the use of trusts.
- Income Tax, Capital Gains Tax, Stamp Duty, and Inheritance Tax advice
- Trust registrations with HMRC
- Completing annual trust tax returns, trust accounts and Capital Gains Tax returns. Preparing forms R185 and assisting with tax reporting for beneficiaries
- Advice around key anniversary dates including calculations of principal and exit charges.
- Preparation of Inheritance Tax returns
- Tax advice in relation to winding up trusts or passing assets out to beneficiaries.
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