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"We deal with the administration, accounting
and UK tax reporting for both UK and offshore trusts"

UK Trusts

A trust can still prove an efficient way of protecting and managing wealth. There are various types of trusts, used for a variety of different circumstances, and the tax legislation that impacts may well have changed since the trust was first created.

A trust can still be an appropriate way to hold property for a child or to set aside a ‘lifeboat’ fund for grandchildren. On the other hand, if a trust has run its course, it may be a question of planning how to wind it up so that the beneficiaries can receive funds or assets without a tax cost.

Trusts are used in wide-ranging circumstances, including:

  • Protection of family assets.
  • The management and control of assets when someone is too young to manage them themselves.
  • The management and control of assets when someone is unable to manage their own affairs due to them being incapacitated by health or ability.
  • To pass on assets either in life or for management post death.

How we can help

The services which we offer clients in the area of UK trusts include:

  • Advising clients on the suitability of a trust structure according to their unique requirements and family circumstances.
  • Acting in the role as trustee through our trust corporation Mercer & Hole Trustees Limited.
  • The administration, accounting and taxation reporting for existing trusts including tax returns and Inheritance Tax (IHT) returns.
  • Advice in relation to Capital Gains Tax for the disposal of trust assets and planning regarding the appointment of trust assets to beneficiaries.
  • IHT consequences of setting up a trust, ten year anniversary reporting and exit charges in relation to the capital distributions to a beneficiary.
  • Reviewing the ongoing effectiveness of a trust created through a Will and assisting the family of the deceased with a future strategy.
  • Advice and planning regarding how to wind up an existing trust that has come to the end of its usefulness in the context of the wider family.

For further information, please contact us at Mercer & Hole - Click here if you wish to submit an email enquiry to one of our Private Client Partners.

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