Trusts and Estates

Trusts and Estates in Cardiff

Whether you are a solicitor acting for an estate or trust or are an executor or a trustee, we can help manage the HMRC reporting requirements that arise, deal with the tax compliance work and advise on how to manage and minimise the tax liabilities throughout.

Our services include:

  • Registration of the trust or estate with HMRC and update of the trust register when required
  • Advising executors on whether estate registration and tax returns are required or whether informal procedures are appropriate for declaring taxes on income and gains during estate administration
  • Preparation of estate and trust tax returns to calculate income and capital gains tax liabilities and submission of these to HMRC
  • Preparation of trust and estate accounts
  • Preparation of IHT forms for trust asset appropriations (on closure or for capital payments) and for ten year anniversary reporting and agreement of tax charges with HMRC
  • Preparation of forms R185 for estates and trusts and, where appropriate, reclaiming tax for beneficiaries
  • Calculation of the tax pool balances and advising the trust on the tax consequences of paying income from trusts to beneficiaries
  • Obtaining clearance from HMRC following completion of estate administration or the cessation of a trust
  • Advising clients on the specifics of agricultural property and business property relief for IHT
  • Advising executors on the capital gains tax consequences of asset sales and minimising capital gains liabilities

Require more information?

If you would like more information or would like to speak to us direct then call us on 029 2038 8218. Or if you would prefer, ask us a question online.

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