Trustees have an obligation to keep proper accounting records and submit annual tax returns. This can be onerous as the taxation of trusts can be complex, particularly for discretionary trusts, accumulation and maintenance trusts and interest in possession trusts affected by the new 'relevant property regime', and, as such, it is advisable to seek professional advice on this.
Warners tailor our service to meet your needs, whether it be the full package of trust administration and tax returns or tax returns only, and whether on an ongoing or a one-off basis. We can complete your tax return, calculate the tax, liaise with the Revenue on your behalf and ensure that all this is done within the Revenue deadlines. If you need tax planning advice for capital gains tax or inheritance tax then we have specialists who can advise on this.
- Age UK Law Clinics We are working with AgeUK to offer their clients and family members the chance to have a free 30 minute consultation with one of our Private Client solicitors.
- Trustees’ Responsibilities – Be Careful Traditionally, trustees used to regard their responsibilities as being almost exclusively the safeguarding of the assets of the trust. However, the Trustee Act 2000 raised the bar somewhat and it is clear that many...