Trust and Estate Returns in Bournemouth
Trusts can be an effective means of protecting and controlling assets. Yet there are a number of tax and legal obligations that a trustee needs to consider.
Trustees are required to keep records of the trust's income and expenses, provide information to beneficiaries, and deal with any inheritance tax (IHT) that may be due. They should also declare any taxable income or capital gains received by the trust when completing the Trust and Estate Tax Return.
There is a variety of trusts available and the record-keeping and tax implications vary for each one.
The rules and regulations for trusts are particularly complex, so it is important to seek expert advice.
Paget Reid York in Bournemouth can help with all types of Trust Return, covering such areas as:
- Advising on the trust's income tax or capital gains tax (CGT) liability
- Dealing with HMRC on the trustee's behalf
- Preparation of estate accounts
- Inheritance tax services
- Completing the Trust Return
Based in Bournemouth, Paget Reid York offer a range of services relating to trusts. Our experienced team can ease the burden by handling all of the necessary paperwork for you, while also helping you to maximise any tax planning opportunities that may be available to the trust.
Please contact us for further help and assistance.