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Tursts

What are Trusts?

A trust is a legal arrangement where a person (the settlor) gives assets to another person (the trustee) to manage on behalf of a beneficiary. Trusts are often used for estate planning, tax efficiency, and protecting family wealth. They provide a flexible way to manage and safeguard assets according to specific instructions. As a leading tax advisory service in the UK, we offer expert guidance on setting up and managing trusts, ensuring they meet legal requirements and achieve your financial objectives.

Why Are Trusts Important?

Trusts serve multiple purposes, including protecting assets, minimizing tax liabilities, and ensuring assets are distributed according to the settlor’s wishes. They can be particularly useful in managing family wealth, charitable donations, and succession planning. The proper use of trusts can reduce the potential for conflicts and ensure that beneficiaries are taken care of in the long term.

Key Benefits of Trusts

  • Protects assets from creditors or external claims
  • Allows for tax-efficient wealth transfer
  • Ensures the settlor’s wishes are followed
  • Provides privacy for asset distribution

Trusts in Estate Planning

  • Helps minimize inheritance tax liabilities
  • Assists in the smooth transfer of assets across generations
  • Protects minor beneficiaries or vulnerable family members
  • Facilitates charitable giving and legacy planning

Who We Are

Tax Advisors is a leading UK-based tax consultancy

Tax Advisors is a leading UK-based tax consultancy powered by a team of Chartered Tax Advisors (CTA), Chartered Accountants, and Former HMRC Inspectors. With decades of combined experience, we specialize in providing expert tax solutions tailored to individuals, businesses, and organizations’ unique needs.

  • At Tax Advisors, we combine technical expertise with a client-focused approach, ensuring every solution we provide is aligned with your financial goals.
  • Trust us to transform tax challenges into opportunities for growth and success.

Our team's deep understanding of the UK tax system

Our team’s deep understanding of the UK tax system and proactive approach allow us to deliver tailored solutions that ensure compliance and optimize your tax position. Whether navigating complex cross-border tax issues, seeking to minimize your tax liabilities, or facing an HMRC investigation, we provide the clarity, confidence, and results you need

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Key Features of Trusts

Trusts offer a range of features that make them an attractive option for managing wealth. From setting up trusts that ensure specific financial needs are met, to understanding the tax implications involved, expert tax advisors can help create the best solution for your situation.
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Asset Protection: Trusts allow for the protection of wealth, ensuring that assets are kept within the family and not lost through claims or legal disputes.
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Trusts can safeguard property, investments, and other assets, ensuring they pass to intended beneficiaries without external interference.
Tailored to your needs:
Trusts can be customized to suit specific financial, family, or charitable goals.

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Tax Advisors FAQs

Frequently asked questions

  • What are the different types of trusts?

    There are several types of trusts, including discretionary trusts, life interest trusts, and bare
    trusts. Each type serves different purposes and offers specific benefits.

  • How are trusts taxed in the UK?

    Trusts are subject to different tax rules depending on their type and structure. Common taxes
    include income tax, capital gains tax, and inheritance tax. Our tax advisors can explain the
    specifics for your situation.

  • Can a trust be changed after it's set up?

    Certain types of trusts, such as discretionary trusts, allow the trustee to make changes to how
    assets are managed. However, other trusts are irrevocable, meaning they cannot be altered
    once established.

  • How do I set up a trust?

    To set up a trust, you need to choose the type of trust, select trustees, and decide on the
    beneficiaries. We can guide you through the process and ensure all legal requirements are met

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