Trust and Inheritance Tax Planning

Inheritance Tax Planning – A wealth of experience at your disposal

Wellden Turnbull provide a wide range of specialist advice and services on all tax exemptions and limits relating to inheritance tax planning. We have the expertise in place to ensure we fulfill your needs, however complex or specific.

When it comes to tax planning, inheritance tax can prove costly for many families. We also know that smart financial planning and knowing which investment opportunities are available can keep tax obligations associated with inheritance to a minimum. In some instances we will have helped beneficiaries avoid inheritance tax liabilities altogether.

There are many factors that affect inheritance tax obligations, such as the size of your estate, available income and the nature of assets held, so receiving advice that is specific to your circumstances is important.

Trusts are also a great way of managing assets and there are many types of trusts to choose from.

There are different types of trusts and they are taxed differently. It’s important to understand which one is right for you. To make sure you are making the most out of your wealth we will assess if trusts are an option, identify which assets apply and advise on suitable trust types. We will also advise on how to ‘will’ trusts and the effects of trusts on inheritance and Capital Gains tax.

We can also help by:

  • Setting up a trust – including liaising with legal advisors
  • Providing a trust tax compliance service – including HMRC correspondence and returns
  • Advising trust transfers – drafting hold-over relief documents etc.
  • Developing tax strategies – using trusts as asset protection structures
  • Advising on private investments and pensions accounting – including the suitability of conduit trusts
  • Supporting vulnerable beneficiaries – in all their trust dealings.

Trusts can be beneficial if you are a business owner too. This is particularly true if you are looking to pass on your business to your children or employees as part of your long-term tax plan. We will consider trusts in your tax planning for company shares and business assets. Furthermore we will provide advice on how trusts can enable employees to get involved in company ownership schemes.

Inheritance Tax Specialists