HSC has a long history of acting for all types of Trusts and Estates and we provide a full range of services, including:-
Tax Compliance Services
Preparing SA900 Tax Returns; R185 tax certificates for beneficiaries; IHT100 and IHT400 Inheritance Tax Returns; and all other UK tax forms that may be required.
Calculating Income Tax, Capital Gains Tax and Inheritance Tax liabilities and advising on making payment to HM Revenue & Customs by the due dates.
Tax Advisory Services
Providing tax planning advice to assist Trustees and Executors in minimising their UK tax liabilities.
Preparing annual, periodic or ad-hoc Accounts, as required, for all types of Trusts.
Administration of trusts in conjunction with Trustees.
Provision of a Professional Trustee
Providing UK tax compliance and advisory services to Offshore Trustees as well as to UK resident trustees.
Dealing with the particular tax issues that arise with Offshore Trusts, especially where there are UK resident beneficiaries, and providing suitable tax planning advice.
Preparing Forms 50(FS) in respect of Offshore Trusts’ Relevant Income and Stockpiled Gains and submitting to HMRC.
Estate Administration Periods
Calculating the tax position for the Estate Administration Period and reporting to HMRC under their informal procedures, or via formal Tax Returns, as appropriate.
Acting for Solicitors dealing with Estates and also for Personal Representatives directly.
Preparing Estate Accounts for the Administration Period, if required.
Settlors and Beneficiaries
Acting for the Settlors and Beneficiaries of Trust and Estate clients in connection with their personal tax affairs.
Ensuring that income arising from Trusts and Estates is seamlessly included on the Settlor’s and Beneficiaries’ personal Tax Returns, as appropriate.
Preparing Tax Repayment Claim forms for beneficiaries, such as minor beneficiaries who might be due annual tax repayments.
Dealing with the tax position for deceased persons for the period up to their date of death.
Court of Protection
Preparing annual Receivership Accounts for the Court of Protection.
Dealing with HMRC Tax Enquiries on behalf of Trusts and Estates and negotiating settlements.