Trusts and estate planning
Trusts are an integral part of a family's overall tax planning strategy. We advise on all aspects of setting up, administering and, where necessary, the winding up of trusts. Despite recent tax changes, trusts still offer families an effective means of passing wealth down the generations whilst providing protection from marital breakdown, family disputes, bankruptcy and "wayward" beneficiaries.
We are a dedicated team of qualified trust professionals, including members of the Society for Trust & Estate Practitioners (STEP), who have excellent relations with lawyers, investment managers, offshore trust companies and other private wealth advisers. BDO was one of the founding members of STEP.
Our trusts and estates advisers are part of the wider Private Client Services team. They draw on the expertise of our personal tax advisers and the specialist teams advising on charities and international matters. Our Family Office team can also deliver a comprehensive set of services, including compliance and assurance, in the UK and internationally.
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
- Inheritance tax and capital gains tax advice.