Trusts

Trusts can be an effective way to keep your assets safe for future beneficiaries. We're here to help you choose the best type of trust for your needs.

Trusts

Trusts can be a valuable and tax-efficient way of protecting your financial assets for future beneficiaries, with a wide range of choices to suit your specific needs. We can help you decide if a trust is the right option for you and can provide the expert support you need to make that trust effective and HMRC-compliant.

What is a trust?

A trust is a legal arrangement that owns assets and is administered by trustees on behalf of the beneficiaries.  

What types of trust are there?

  • Bare trusts – assets are held in name of the trustee, but a beneficiary has the right to all of the capital and income at any time if over 18.
  • Interest-in-possession trusts – the beneficiary has an immediate right to income from the trust as it arises, but will usually not have rights over the capital.
  • Discretionary trusts – trustees have the discretion as to how to use the trust income.  The trust deed may also give trustees the discretion on how to distribute capital.
  • Other more specialist trusts include trusts for vulnerable people, personal injury trusts, charitable trusts, mixed trusts, and non-resident trusts.

How can we help?

If you are considering setting up a trust, we can:

  • advise you on the most appropriate type for you
  • talk you through the tax implications
  • help you to set it up
  • support you with all the accounting and taxation services you need
  • make sure that the trust is HMRC compliant.

Get in touch

For a free initial consultation, contact Andrew Roberts: andrew@bsrb.co.uk

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