Trust Tax

Trusts are adaptable entities that can aid in safeguarding your riches, securing economic stability for forthcoming generations, and guaranteeing that your assets are administered as per your preferences.

 

Managing Trust 

Odiri Tax Consultants offers specialised assistance to trustees in meeting their accounting and taxation requirements effectively. With a keen focus on accuracy, we ensure meticulous record-keeping, preparation of comprehensive annual accounts, and proficient management of all taxation obligations. Our services include registering the trust with HMRC, preparing and filing annual tax returns as well as inheritance tax returns. Additionally, we provide expert advice on tax payments and distribution ito beneficiaries. 

 

Our other  trust advisory services include:

 

• Guidance and support in establishing trusts that perfectly align with your wishes and long-term objectives for your assets
• Thorough analysis of legal documents including trust deeds, letters of wishes, and trustees’ resolutions; working collaboratively with your solicitors to ensure optimal tax efficiency
• Expert advice to trustees on the tax implications of distributing income or capital to beneficiaries
• Assistance with Capital Gains Tax consequences when disposing of trust assets, with a focus on mitigating potential liabilities
• comprehensive Inheritance Tax advice for trustees, covering available reliefs such as Agricultural Property Relief and Business Property Relief

Trust Tax Compliance 

 

• Our trust compliance services include:
  completion of annual trust accounts, trust tax returns, and forms R185 for beneficiaries
• expert assistance with UK Capital Gains Tax returns when trustees sell UK residential property
• efficient preparation of forms IHT100 and supplementary pages for Inheritance Tax events, such as ten-year anniversary charges and exit charges
• proactive management of anti-money laundering compliance obligations through the Trust Registration Service (TRS).
• proficient handling of any necessary forms or returns under the FATCA/CRS regimes involving non-UK resident individuals connected to the trust.

Family investment company

At Odiri Tax Consultants, we offer valuable guidance on Family Investment Companies, which have become a widely sought-after alternative to Trusts for achieving multigenerational succession planning. Ascertaining the ideal course of action is dependent on individual circumstances, and we provide bespoke advice to assist you in making the right decision.

 

Contact Odiri Tax Consultants Trust Services Team