• Trusts, Family and Private Office

    Trust and estate planning for families and their advisers, with comprehensive family and private office services

Family and Private Office

Trusts are an integral part of a family's overall tax planning strategy and we are able to advise on all aspects of setting up, administering and, where necessary, the winding up of trusts.  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 "wayward" beneficiaries. 

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. BDO was one of the founding members of STEP.

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 wider Family and Private Office team can deliver a comprehensive set of services on a national and international scale and can offer ongoing compliance and assurance services as required.

Working with BDO’s Business Services and Accounting practice we are developing the use of BDODrive to present information to private clients, their families and their advisers.  Information is accessible in one place, and up to date – allowing for more timely advice to clients, who are able to make more informed decisions about their affairs.

Our wider services include:

  • Advising on best practice for trustees and, in conjunction with investment managers, determining the trustees' investment policies
  • 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
  • Charitable trust tax returns and repayment claims, Charity Commission annual returns and general charitable compliance
  • Completion of annual charitable trust accounts in compliance with SORP requirements
  • Completion of annual trust accounts, trust tax returns, beneficiaries tax certificates and general trust compliance for UK and non-UK resident trusts
  • Detailed advice on availability of inheritance tax reliefs, in particular business property relief and reviews of companies to advise on availability of relief
  • Family office (monthly accounts, bank statement reconciliation)
  • Inheritance tax and capital gains tax advice.