Trusts are complex instruments with many variations. With legislative changes they have lost much of their popularity in recent years, but they can be a tax-efficient way to set aside assets for future beneficiaries outside of the inheritance tax net. In some cases, they are used to retain a degree of control as compared to simply the gifting of assets and their uses can be many and varied including providing future funds for children or safeguarding individuals who are mentally or otherwise incapacitated. We can advise on matters pertaining to planning using trusts and assist with tax compliance matters in respect of income tax, capital gains tax and inheritance tax.
