Trusts are mainly used to protect family wealth – it’s an excellent way for the creators to ensure that the inheritance is kept in good order and not wasted either during their lifetime or on death.
Whether you’re the trustee or beneficiary of a discretionary or ‘interest in possession’ trust, Farrow Accounting has the resources and expertise to help with your accounts, tax returns and tax planning. We also advise on inheritance tax planning.
Typically the trustees will want to know how much income they can pay to the beneficiaries without incurring an additional tax charge on the trust (the tax pool charge).
We also help beneficiaries get the tax refund which they could be entitled to, especially when they’re under 18.
Many thanks for dealing with our affairs in such an easy to follow format and for unravelling the complexities of the charitable payments from the Trust.
Director, Spindrift Estates Limited
© Copyright Farrow Accounting 2015