Trust accounts and trust tax compliance

The use of trusts continues to be popular as a tax planning tool and as a way of protecting family wealth by giving income to individuals but not allowing them access to the underlying capital. Trusts offer the donor the tax advantages of a gift but allow him or her to lay down some rules as to how this gift is used by means of a trust deed and the appointment of trustees.

Not surprisingly, given the tax advantages of trusts there is a wealth of tax legislation that needs to be considered when completing a trust’s annual accounts and assessing its income tax position.

We can also assist solicitors dealing with probate matters by preparing estate accounts and the associated tax returns. We are happy act for the executors directly or for the solicitor advising on the administration of the estate.

Our services include:

  • preparation of annual trust accounts
  • preparation of trust income tax returns
  • preparation of R185 forms for beneficiaries
  • calculation of exit charges and 10 Year Charges for discretionary trusts
  • preparation of estate accounts and estate income tax returns

Most trusts arise from personal tax planning and estate planning. Please see our personal tax planning and estate planning pages on this site for more details.

If you need some help in fulfilling your responsibilities as a trustee, and feel we can help, please contact Joe Taylor, at  or call Joe on 01423 564446

Contact us

To get a flavour of what we can do for you, please feel free to call or email any of our partners or staff for a chat or to arrange a free initial meeting.