Latest Trusts

Do you know how to protect your charity from cyber crime?   Cyber crime is becoming more frequent in all aspects of life, due to the increased use of technology.   As a Trustee, it is part of your role to ensure that the Charity’s funds are protected, and the resources are managed responsibly.  …

Has the Inheritance Tax Trap caught you out?   Inheritance Tax (IHT) receipts continue to rise. There may be some who have unnecessarily overpaid due to life insurance not being in a Trust. According to NFU Mutual, 6,810 estates that paid IHT in 2021/22 included life insurance policies which could be exempt from the charge…

Have you considered trusts when it comes to tax planning and asset protection?   The Purpose of Trusts Whilst trusts were created during the 12th century to protect the assets and interests of the nobility, these days their use is no longer restricted to higher society. Today, trusts serve the same purposes as they did…

Inheritance Tax (IHT) has traditionally been a domicile-based tax; however, the recent Spring Budget proposed a new ‘modernised residence-based regime’, which seems set to make significant changes to IHT from 6 April 2025.   The concept of Domicile The term domicile traces its roots to the Latin word “Domus”, meaning “Home”. As a concept, domicile…

Have you considered preserving your family wealth?   It is a common occurrence in times of economic uncertainty, most recently the COVID-19 pandemic and the 2008 financial crisis, that asset valuations slump. In recent weeks, there has been widespread concern about the economy and in particular the housing market, with the volume of transactions and…

Once clients have built up a successful business, their focus will naturally evolve from business development to protecting the valuable they have buily up from the risks associated with running a business.

Adding to the plethora of red tape, there is now a requirement for overseas entities (ie a legal entity, such as a company or other organisation, that has legal personality and is governed by the law of a country or territory outside the UK) who own or lease property or land in the United Kingdom…

  1st September 2022 – This deadline may apply to you!   If you hold property or investments on behalf of another person, HMRC may consider this as a reportable trust arrangement. This may mean that you need to register on the Trust Registration Service (TRS) before 1st September 2022.   New legislation now in…

Intended as a companion to: TRS Who should register and when. The TRS will collect information about the trust and its trustees, settlors and other individuals or organisations exercising control. This will include: Name of the trust. Date the trust was created. Whether the trust is an express trust or not. Details of the trust…

The Trust registration service went live in 2017 and required any express trust with UK liabilities to register whether they were UK or non-UK resident. An express trust is simply a trust deliberately created by a settlor by transferring property to a trustee. Who should register? Recent money laundering directives have extended the definition of…