Trusts

A trust is a legal arrangement where assets are held by trustees for the benefit of others, and can be used for a range of purposes, from protecting assets for young or vulnerable beneficiaries to succession and estate planning. Different types of trust exist, each with its own rules and typical uses.

Trusts carry their own tax obligations, potentially including income tax, capital gains tax and inheritance tax charges, along with registration and reporting duties for trustees. Setting up or managing a trust without proper advice can lead to unexpected liabilities, so professional guidance is strongly recommended at every stage.