Trusts & Estates

Few of us like to think about dying, but planning for how your estate passes to your chosen beneficiaries requires careful thought, and we would always recommend making provision well in advance. We also advise on the most suitable type of trusts.

Trusts

The tax advantages of setting up a UK trust have been reduced over recent years, however, trusts can still offer an effective means of protecting and managing wealth across successive generations. Tax considerations which need to be borne in mind, can still be a worthwhile option. 

Trusts can also be useful for:

  • Providing funds for your children or grandchildren’s education, maintenance, etc.
  • Restricting access to property by future beneficiaries
  • Providing for people who are mentally or otherwise incapacitated
  • Rewarding employees, for example as part of a share incentive arrangement.

We can advise on the most suitable type of trust for your purposes, assist with the setting up of the trust, and provide a full range of accounting and tax compliance services. We are also able to offer help with the calculation of trust tax liabilities and the valuation of assets entering or leaving trusts.

Estate Planning

 “Nothing is certain except death and taxes”, or so the saying goes.  

We can assist personal representatives with completion of probate forms and delivering the inheritance tax account. There is a large amount of information to collate and completion of the relevant forms can often be overwhelming. We can guide representatives through the process, prepare all necessary inheritance tax calculations, estate tax returns and consider whether there are any post-death planning opportunities which the beneficiaries may wish to consider.  We work with the relevant lawyers to ensure that the estate is wound up as efficiently as possible.

If you are in need of support or assistance get in touch with our friendly team of tax specialists today at hello@newbycastleman.co.uk to discuss how we can help you maximise the value of your business. We look forward to hearing from you.