Trusts and Estates

If you’re a trustee of a trust, you must ensure that the trust’s tax return is completed, giving information to beneficiaries so that they can complete their personal tax returns.

To help you do this, you must keep records of all of the income and expenses of the trust and you will also need these records if HM Revenue and Customs (HMRC) asks about the return. You may also be asked to provide records when notifying HMRC of transfers into or out of the trust where inheritance tax (IHT) charges apply.

If you’re a trustee of a trust that has received income or made profits above the capital gains tax threshold for trusts, you must let HMRC know so that any tax due can be paid. In order to this, you will need to complete a Trust and Estate Tax Return after the end of the tax year.

The Fish Partnership’s tax team have the knowledge and experience to help you comply with all your filing obligations.

We have experience in providing assistance to solicitors and other professionals with the completion of trust and estate accounts, trust and estate self-assessment tax returns, and inheritance tax forms in relation to trusts and estates.

We also provide trustees and executors with assistance in running the trust or administering the estate. This could involve completing all necessary accounts and tax returns or merely advising on the likely tax consequences arising through the life of the trust or administration period.