Trusts and estates

Despite recent tax changes, trusts can still offer families an effective means of passing wealth down the generations whilst providing protection from marital breakdown, family disputes, bankruptcy and “way-ward” beneficiaries.  Trusts are an integral part of a family’s overall tax planning strategy and we are able to advise you on all aspects of setting up, administering and, where necessary, the winding up of a trust.

At BDO, we have a dedicated team of qualified trust professionals, including members of the Society for Trust & Estate Practitioners (STEP), who have excellent relations with private client lawyers, investment managers and offshore trust companies. Our trusts and estates advisers are part of the wider private client services, ensuring they have close interaction with personal tax advisers whilst also having regular contact with specialist teams advising on charities and international matters.

Our specialist tax services include (but are not limited to):

• Completion of annual trust accounts, trust tax returns, beneficiaries tax certificates and general trust compliance for UK and non-UK resident trusts.
• Completion of annual charitable trust accounts in compliance with SORP requirements
• Charitable trust tax returns and repayment claims, Charity Commission annual returns and general charitable compliance
• Advising on best practice for trustees and, in conjunction with investment managers, determining the trustees’ investment policies
• Inheritance tax (IHT) and capital gains tax (CGT) advice
• Advising on trust deeds, resolutions and the tax efficiency of Wills
• Advising trustees, settlers and beneficiaries of the benefits, liabilities and required compliance of offshore trusts and their underlying companies
• Detailed advice on availability of inheritance tax reliefs, in particular business property relief and reviews of companies to advise on availability of relief