Trust and Estate Tax
We are able to help you with all aspects of accounting and taxation of Trusts and Estates including:
Trusts (Including family Trusts and Will Trusts)
- Guidance on forming a Trust and liaising with your solicitor. (An introduction to a local solicitor if you do not already have one.)
- Preparation of annual Trust Accounts.
- Preparation of Self-Assessment tax returns including income tax, capital gains tax, and inheritance tax returns for the ten year charge or other IHT liabilities.
- Annual online registration of Trustees as required by HMRC.
- Preparation of forms R185 for beneficiaries on an annual basis.
The Estates of deceased persons need to be dealt with on a timely basis and it is difficult to keep on top of things at such a difficult time. We can help with:
- Preparation of self-assessment returns to the date of death of the deceased.
- Preparation of self-assessment returns for the Estate from the date of death to the date on which all assets are distributed, working closely with your solicitor if required.
- Preparation of forms R185 detailing the income distributions to beneficiaries during the administration period.
If self-assessment returns are not necessary then we can assist with dealing with the taxation matters of the Estate on an “Informal” basis with HMRC. This is dependent on the income and capital gains of the Estate.
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