A trust can be established for a variety of reasons including tax planning for a wide range of taxes or for the protection of assets, or for children and other vulnerable people.
If you’re looking to protect the wealth you’ve built for your loved ones, it’s essential to seek expert advice. The structures you put in place can have lasting consequences and tax implications for you and your family. These structures should be reviewed regularly, together with your Will, to take into account changes in legislation.
The right forward planning can protect your estate, avoid unnecessary tax bills and can make a real difference to the lasting financial security of your family.
Following recent changes in the law the taxation of trusts can be very complicated with quite stringent penalties if the tax returns are late or incorrect or an incorrect amount of tax has been paid. We will complete the annual trust accounts and tax returns, calculate the tax due, prepare any tax deduction certificates required in respect of distributions to beneficiaries and liaise with HM Revenue & Customs on your behalf.
Please contact us if you need further advice, have any questions about the services Hisbah can offer or if you would like a free consultation.